Beijing time this evening (6/22), the world's largest digital freight platform$Manbang (YMM.US) $It will officially land on the New York Stock Exchange.

This time, Manbang's IPO was very popular. By the end of the subscription, the final number of people who had subscribed to Manbang through Futu reached 38,833, and the subscription amount exceeded 370 million US dollars.

For investors participating in the US stock market for the first time, there is a big difference between opening a new US stock market and opening a new Hong Kong stock market. IPOs have specially sorted out the problems that may be encountered during the IPO process for everyone to refer to.

First, let me share with you the timeline for trading US IPOs on the first day of listing.

US IPOs are not like Hong Kong stocks. They cannot be directly traded after the market opens. After the IPO opens at 21:30, they will enter the on-site collective bidding stage, and online trading is not possible during this period. Because the in-market process and collective bidding time vary, this stage usually lasts 1 hour or more. The time to start trading may be at any time during the session, so bulls need to keep their own eyes on their own.

Next are the questions you may encounter when entering new US stocks. IPOs are here to answer them one by one.

1. What are the rules for allocating the new winning contracts for US stocks?

The introduction of new US stocks is an inclusive policy and the principle of weighting. In other words, while satisfying the opening of new retail investors as much as possible, customers who have subscribed to more shares will be easier to hit.

Generally, the winning rate for new US stocks is around 60%-70%, which will fluctuate depending on how popular new stocks are. The winning rate of popular IPOs may be slightly lower, but I'm sure all the fans will be blessed by Lady Luck~

2. When will the winning results be announced? How can I check the winning results?

The winning results will usually be announced between 21:00 and 23:00 on the listing day. Please be patient and keep an eye out for system notifications and emails. Due to the tight allocation time for US stocks, it may not be possible to complete the distribution before the official transaction, and delays in showing the winning results are a normal phenomenon.

Customers who have already won the lottery can go to the US Stock Open New Account (that is, the FUTU US account) to check the winning new shares. The details are as follows:

Open the Futu Bull App — Trade — Open a new US stock account — Subscription history — Position holdings.

3. When can I trade new US stocks?

1) After collective bidding. On the day of listing, collective bidding will be held before public trading. Trading usually starts at 23:00 or later due to differences in market procedures and collective bidding times on the day of IPO listing.

2) After the IPO has been distributed. After announcing the winning contract, Futu Securities (US) will need to make final confirmation of the IPO quota with the underwriter before opening the transaction. The confirmation time depends on the underwriter. Please note that there may be situations where confirmation and opening of the transaction will not be completed until the official listing transaction is completed.

4. How to trade after winning?

If you win, you can trade after opening a trade. You can open Futu Bull — Trade — Open a new account for US stocks — Trade — click “Unlock Trade” to trade.

5. If I win, how do I transfer the funds back to my Futu Securities (Hong Kong) account?

Open Futu Bull — Trade — Open a new US stock account — Transfer funds — Initiate a fund transfer (there is no processing fee for fund transfers; it is expected that they will be transferred to the account you choose to transfer within 3 working days).

6. Will unfrozen funds be automatically unfrozen and returned to the original account?

If you win, only the winning funds will be deducted, and the unwon funds will release purchasing power.