首破万亿元！北交所打新资金规模创新高

Core Viewpoint - The issuance results of Meidele's new shares indicate a significant increase in investor interest in the Beijing Stock Exchange (BSE), with the effective subscription amount surpassing 1 trillion yuan for the first time, setting a historical record [1][2]. Group 1: Subscription Details - Meidele's new share issuance saw an effective subscription amount of 1,058.86 billion yuan, with 592,450 valid subscription accounts and approximately 61,000 successful allocations [3][4]. - The final issuance price for Meidele's shares was set at 41.88 yuan, with a subscription multiple of 1,755.77 times [4][6]. - The allocation ratio for online investors was approximately 0.057%, indicating that investors needed to prepare around 7.35 million yuan to secure one lot (100 shares) [6]. Group 2: Market Dynamics - The rapid growth of subscription funds in the BSE is attributed to the attractive returns from new shares, with the average subscription amount increasing significantly over the years, from 231 million yuan in 2022 to 9.1 billion yuan in 2026 [7]. - The BSE's method of allocating shares based on the amount of subscription funds rather than a lottery system has made it appealing for large investors, leading to a perception of low risk in participating in new share offerings [7]. Group 3: Accessibility Issues - The increasing subscription thresholds have made it challenging for small investors to participate, with recent new shares requiring at least 500 million yuan to secure an allocation, effectively turning the BSE into a domain for wealthier investors [8]. - For instance, the subscription requirement for Meidele was 7.35 million yuan, while other recent offerings also had high thresholds, indicating a trend that excludes smaller retail investors [8][9].