In addition, there is a vast oversubscription in almost every IPO, which makes the actual return to the subscribers who have been actually allocated some shares of the new issue far less than the nominal initial return.

• 同时 ；由于一级市场超额认购倍数极高 ；投资者申购新股资金的实际回报率远远小于其名义初始回报率 .