How many convertible bonds are in one lot, and how many shares are in one lot of convertible bonds

10 sheets. The minimum number of convertible bonds is one hand, one hand is 10, each represents the face value of 100 yuan, and the convertible bonds are generally purchased according to the face value when subscribing for convertible bonds in the primary market, and it takes at least 1,000 yuan to subscribe, but in the secondary market, it is not according to the face value, but according to the transaction. [Welcome to click to learn more].

In addition to subscription and in the secondary market**, investors can also obtain convertible bonds through placement, and hold the first place right of the bond issuer on the equity record date. Before the placement, the listed company will generally release the placement ratio, the placement ratio is the meaning of how many convertible bonds can be obtained per lot, and the number of convertible bonds can be determined by the placement ratio when the placement ratio, but the final number should be an integer multiple of one lot.

The number of shares converted into a lot of convertible bonds is determined by the conversion price of the convertible bonds, and the number of shares converted = the face value of the first lot of convertible bonds and the conversion price. The face value of the convertible bonds of all listed companies is 100 yuan, and the conversion price is 10 in one lot, and the conversion price is different, we can check the conversion price of the convertible bond in the F10 page.

If you want to know more about convertible bonds, we recommend consulting IFC**. Shouldering the mission of "making financial services more efficient and reliable" and the vision of "becoming a pivotal financial service institution", IFC** adheres to the core values of customer first, teamwork, professional norms, continuous optimization and pursuit of excellence, and is committed to providing customers with a full range of financial services such as trading, investment and financing, and wealth management.

1 lot of convertible bonds is equal to 10 lots, and the minimum trading unit of convertible bonds is lotsHowever, when entrusting transactions, some brokerages display 1 lot, and some brokerages display 10 lots, both of which represent the same meaning. For example, the winning convertible bond issuance** is 100 yuan each, if you win the lot, it means that you need to prepare a subscription fee of 1,000 yuan.

When trading in the secondary market, the real-time** transaction price of the convertible bond is used, which may be higher or lower than the par value. Convertible bonds** are mainly affected by the underlying stock**, and if the underlying stock trend is good, the convertible bond will generally be higher than the face value; When the underlying stock moves badly, the convertible bond** will generally be lower than par.

However, it should be noted that although the money-making effect of convertible bonds is not as obvious as that of **, it is also a good object in the investment market, and if investors plan to buy and sell convertible bonds, they must have a certain understanding of their trading principles and related skills.

One lot of convertible bonds is 10 shares, and one share is 100 yuan, which means that one lot is 1,000 yuan.

Convertible bonds are similar to IPOs.

In the convertible bond before the stock is not converted into a bond stock for early subscription, and then by lottery to decide whether to hit, the convertible bond subscription threshold is low, no need to hold the underlying stock, the new stock is required to hold the minimum amount of the market value of the new limit, the subscription of convertible bonds does not have this restriction. Convertible bonds are issued with a face value of 100 yuan per share, and convertible bonds are T+0 transactions, which can be sold on the same day, and there is no limit on convertible bonds.

Extended Information] Convertible bonds.

It is a bond in which the bondholder can convert the bond into the company's ordinary ** according to the agreement at the time of issuance. If the bondholder does not want to convert, they can continue to hold the bond until the repayment period expires to receive the principal and interest, or liquidate it in the liquid market**.

If the holder is optimistic about the potential of the bond issuer to increase its value, he or she can exercise the right to convert the bond into ** according to the predetermined conversion after the grace period, and the bond issuer shall not refuse. The interest rate of the bond is generally lower than the interest rate of the bond of ordinary companies, and the issuance of convertible bonds by enterprises can reduce the cost of financing. Fight for nothing.

Holders of convertible bonds also have the right to sell the bonds back under certain conditions.

The right to the issuer, the issuer has the right to redeem the bond compulsorily under certain conditions.

Convertible bonds are bonds that can be converted into a certain amount of another bond by the holder in a certain percentage or ** within a certain period of time.

Convertible bonds are convertible corporate bonds.

The abbreviation, also referred to as convertible bond, is a special corporate bond that can be converted into ordinary ** at a specific time and under specific conditions.

Convertible bonds have the characteristics of both debt and options.

Convertible bonds are pure bonds before being converted into **, but after being converted into **, the original bondholders have changed from creditors to shareholders of the company, and can participate in the company's business decisions and dividend distribution, which will also affect the company's equity structure to a certain extent.

Convertibility is an important sign of a convertible bond, and the bondholder can convert the bond into ** according to the agreed conditions. Conversion is an option that investors enjoy that is not available in ordinary bonds. Convertible bonds are expressly agreed at the time of issuance, and bondholders can convert the bonds into ordinary bonds of the company in accordance with the ** agreed at the time of issuance**.

Because of their convertibility, the interest rate of convertible bonds is generally lower than that of ordinary corporate bonds.

Shanghai. 70-150 yuan Shenqiao Xi City.

70-130 yuan more than this ** other than the pending order, Min Henghu Shanghai is a scrap order, ** does not enter the bidding system. Therefore, newly listed convertible bonds can choose between 9:15-9:

Between 25, a pending order is 100 yuan to sell. In this way, if the opening price is higher than $100, it will be sold at the opening price at 9:30.

Further information: 1. The main business of Nova Convertible Bonds is as follows:

1) Production, manufacturing and sales of aluminum grain refiners As an important additive in the process of aluminum processing, aluminum grain refiner (aluminum-titanium-boron, aluminum-titanium-carbon) is widely used in the manufacturing and processing of aluminum in various fields such as aerospace, rail transit, military industry, navigation, construction, machinery manufacturing, chemical industry and so on.

2) Manufacture and sales of fluoride salt materials Fluorine salt materials include potassium fluorotitanate and potassium fluoroborate, which are the main raw materials for aluminum grain refiners.

3) Fluorite mines.

Mining and sales Ruijin Mianjiang Fluorite is a wholly-owned subsidiary of the company, and the amount of fluorite can be mined is 590,000 tons. Fluorite ore is the main raw material for fluoride salt manufacturing, in view of the non-renewable characteristics of fluorite resources, with strong scarcity, with the continuous development of the industry, the importance of fluorite resources will become more and more obvious in the future, and enterprises in the industry have a certain degree of dependence on upstream fluorite resources; The company made use of its own advantages, seized the opportunity to lay out in advance, and expanded vertically to the upstream, laying a solid foundation for the company's whole industry chain layout.

2. Overview of the issuance and listing of convertible bonds by the China ** Supervision and Administration Commission.

Zheng Jian Xu Xu No. 2020 No. 1441" approved that Shenzhen Xinxing Light Alloy Materials Co., Ltd. (hereinafter referred to as the "Company") publicly issued 10,000 convertible corporate bonds on August 13, 2020.

Each has a face value of $100 and a total issue amount of $595 million. Through the Shanghai ** Exchange.

Self-Regulatory Decision 2020 No. 301 agrees that the Company's RMB 595 million convertible corporate bonds will be listed on the Shanghai Stock Exchange from September 11, 2020.

Listed for trading, the bond is referred to as "Nova Convertible Bond", and the bond ** "113600". In accordance with relevant laws and regulations.

According to the provisions of the "Shenzhen Xinxing Light Alloy Materials Co., Ltd. **** Convertible Corporate Bond Prospectus", the "Xinxing Convertible Bonds" issued by the company can be converted into shares of the Company from February 19, 2021, and the initial ** of the conversion is yuan shares.

3. The conversion period of the "new star convertible bonds" issued by the company is from February 19, 2021 to August 12, 2026. From July 1, 2021 to September 30, 2021, a total of RMB74,000 has been "New Barrier Star Convertible Bonds".

10 shares. The number of convertible shares of each convertible bond = the total amount of the convertible bond coupon The current conversion price, for example, if the conversion price is 10 yuan, the number of ** obtained by each convertible bond = 100 10 = 10 shares.

The corresponding value of the converted ** = the number of convertible shares The positive stock price, if the ** value after the conversion is greater than the market value of the convertible bond, it is cost-effective for the investor to carry out the transfer operation, on the contrary, if the ** value after the conversion is less than the market value of the convertible bond, the investor will lose money for the conversion of shares.

In short, investors will not lose money by converting shares when the conversion price is lower than the underlying stock price, while converting shares when the conversion price is higher than the positive stock price, the investor will lose money.

At the same time, when the investor applies for the transfer of shares and finally gets less than 1 share, the company will be cashed in cash within 5 trading days after the date of the transfer, and after 9 p.m. or the next morning after the transfer, the convertible bond disappears, and the underlying stock of the convertible bond appears, and it can be sold on the next day (T+1 day).

Further information: 1. The risks of investing in convertible bonds are:

1. There is a risk of stock price fluctuations when investing in convertible bonds.

2. Risk of interest loss. When the stock price is converted to a convertible position, the convertible bond investor is forced to become a bond investor. The interest rate of convertible bonds is generally lower than the interest rate of bonds of the same grade, so investors will face interest losses.

3. Risk of early redemption. Many convertible bonds stipulate that the issuer will redeem the bond with a certain ** after a period of issuance, and early redemption limits the high return of investors.

4. Investment in convertible bonds faces the risk of forced conversion.

2. The rules for convertible bond transactions are as follows:

1.Trading Methods.

Convertible bonds.

The implementation is a T+0 trading method, and its entrustment, trading, custody, sub-custody, ** disclosure, and trading time refer to A shares.

For convertible bonds, the trading will be terminated 10 trading days before the end of the conversion period, and the exchange will be terminated one week before the end of the trading period.

The announcement can be transferred to custody with reference to the rules of A-share ** trading.

2.Trade**.

When buying and selling, declare with "hands", one hand is equal to 1,000 yuan, and at least 10 convertible bonds can be bought at one time. For example, an investor converts 10 convertible bonds with a face value of 100 yuan into 10 yuan per share.

3.Transaction costs.

Investors are required to pay certain commissions and handling fees for buying and selling convertible bonds. Shenzhen Stock Exchange.

A commission is paid at 2% of the total transaction amount, SSE.

The handling fee of 1 yuan (Shanghai) or 3 yuan (over-the-counter) is paid for each transaction, and the commission is paid at 2 of the total transaction amount for the transaction. Convertible bonds generally have early redemption announcements, and investors should always pay attention to avoid unnecessary losses.

4.Disc method.

More and more investors are buying convertible bonds, and the winning rate of buying convertible bonds is getting lower and lower. Investors can buy convertible bonds directly, similar to buying new shares. They can also do this by purchasing common stock in advance.

Priority allotment rights can also be obtained through a pass-through account in the secondary market.

Buy and sell convertible bonds.

Convertible bond holders can convert bonds into ** according to their personal investment needs within a certain period of time, regardless of whether they choose to convert to shares or not to convert to shares, the purpose is to maximize the benefits of bonds. Therefore, before the transfer of shares, it is necessary to understand how many shares of the bonds in your hand can be converted. So how many shares can be converted into a lot of convertible bonds?

Let's take a look at the calculation method of the number of convertible bonds to equity.

1. How many shares can be converted into a lot of convertible bonds

One lot of convertible bonds is 10, and the general single denomination is 100 yuan. The formula for calculating the number of convertible bonds to equity is as follows: the number of convertible bonds = the number of convertible bonds * 100 conversion price.

Suppose the investor has a lot of convertible bonds of a listed company, the face value of the bonds is 100 yuan each, and the agreed conversion price is 20 yuan. Then the number of convertible shares of this convertible bond is: 100 * 10 20 = 50 shares.

2. When can convertible bonds be converted into shares?

In order to determine whether it is cost-effective to convert convertible bonds into equity, it is also necessary to calculate the value of convertible bonds into equity, and the value of the convertible shares = the number of shares to be converted * the underlying shares**. Assuming that the underlying stock of the listed company is 25 yuan, it means that the value of this convertible bond after conversion is: 50 * 25 = 1250 yuan.

Convertible bonds themselves belong to bonds, and investors have the right to convert shares, but they can also choose not to convert shares, hold the bonds to maturity or buy and sell through the ** account.

Convertible bonds are bought and sold** different from the face value of the bonds, which may be higher than 100 or lower than 100. The value of the convertible bond sold directly depends on the current bond transaction**.

If the bond** is $125 per piece, then the value of the bond sold is exactly $1,250, which is equivalent to the value of the conversion. In the same way, if the bond** is less than $125, then it will be more cost-effective to convert shares, and if it is higher than $125, it is more cost-effective to sell the bond directly.

For investors who win the lottery, they can generally choose to sell as long as the convertible bonds are listed and issued.

But whether to sell or not, you can look at the market. If the first is good, the underlying stock will be about 20% on the first day of listing, and 10 convertible bonds will be won to make a profit of 200 yuan. If the price continues to rise, so will the convertible bonds.

For the winners, if you are conservative, it is most appropriate to sell it on the first day of listing, because you can lock in profits, in case you don't sell, ** falls, convertible bonds fall, income shrinks, and even when ** is not good, convertible bonds fall below 100 yuan, and losses will occur.

Convertible bonds require special attention

It should be noted that convertible bonds have a trigger redemption mechanism, if the price of the underlying stock is not less than 130% (including 130%) of the current conversion of shares for at least 20 trading days in any 30 consecutive trading days, the company has the right to redeem all or part of the convertible bonds that have not been converted into shares at the redemption rate of 103% of the face value of the bond (including the interest of the current interest-bearing year).

At this time, the listed company will issue an announcement to remind investors to transfer shares. At this time, investors can choose to convert the convertible bonds into shares of the listed company, or they can choose to sell the convertible bonds, but if they neither convert shares nor sell, the listed company will be forced to redeem, for example, 120 yuan of convertible bonds, the mandatory redemption ** is 103 yuan, investors will lose money, so if you hold convertible bonds, you need to pay attention to the announcement of the listed company in time to avoid dumb losses.