最低仅获配39股!摩尔线程打新出炉,B类投资者几乎被“忽视”
券商中国·2025-11-25 23:22

Core Viewpoint - The offline subscription for new shares in the Sci-Tech Innovation Board is experiencing a significant shift, with A-class investors receiving a dominant allocation compared to B-class investors due to new subscription rules [1][5][9]. Group 1: Allocation Results - A-class investors received 98.44% of the allocation, while B-class investors only received 1.56% in the recent subscription by Moer Thread [2][3]. - The allocation for A-class investors in other recent Sci-Tech Innovation Board subscriptions also showed a similar trend, with A-class allocations ranging from 94.66% to 97.48% [3][4]. Group 2: Subscription Rules - The reduction in B-class investor allocations is attributed to the adjustment of offline subscription rules, which now implement a "contractual lock-up" method [5][6]. - The new rules allow A-class investors to choose from different lock-up periods and ratios, significantly favoring them over B-class investors [6][9]. Group 3: Impact on Investors - The disparity in allocation ratios has raised concerns about the potential impact on the returns for B-class investors, such as private equity firms [8]. - Research indicates that under the new subscription rules, the average return contribution for A-class investors is significantly higher than that for B-class investors, with A1 class potentially contributing 0.116% compared to B-class's 0.014% [9].