New regulations for institutions participating in IPOs of unprofitable companies take effect — "high" lock-up = "high" allocation

After the fifth set of standards for the listing of unprofitable companies on the Sci-Tech Innovation Board was restarted in June this year, Healthgen Biotechnology, ESWIN, and BeBetter Med, three loss-making companies, have entered the issuance stage. Recently, these three companies have successively disclosed the lottery results. As the first batch of companies to implement differentiated lock-up and allocation mechanisms in offline issuance, Class A1 and A2 institutional investors received more than ten times the allocation ratio of Class B, but the lock-up period for the former two is longer, and the lock-up ratio is higher