What are the rules when underwriting securities?

1. During the period of consignment and underwriting, a securities company shall ensure that its consignment and underwriting securities are sold to subscribers first. A securities company shall not reserve the securities entrusted or purchased by it, and shall not reserve the securities underwritten by it in advance.

2. Stock issuance adopts the method of consignment. At the expiration of the consignment period, the number of shares sold to investors does not reach 70% of the number of shares to be publicly issued, which is a failure. The issuer shall return the shares to the subscribers at the issue price plus the interest of the bank deposits for the same period.