Critics say brokers have an incentive to provide the funds, which are secured against the shares, as they earn commissions on share trading in the IPOs and receive interest on the loan.

• 批评人士指出，证券公司提供这些用股票来抵押的资金是有其动机的，因为它们既能通过IPO的股票交易赚取佣金，又能收取贷款利息。