When new stock is given by stock split, etc., for the issues eligible for loans for margin transactions, JSF will bid for the rights to such new stock on the ex-rights day, in order to dispose the rights associated with the loans for margin transactions (standardized margin transactions) of such issues. (Note)
| (Note) |
In paid-in capital increase, bidding for subscription warrant to be issued will be held. |
| In this bidding, new stock, etc., to be offered to the stock certificates held by JSF under the name of JSF as collateral for loans for margin transactions are sold by competitive bidding |
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| (Note) |
In addition to securities companies, individual investors may, by participating in the bidding through their associated securities companies, also acquire new stock at their requested price, without recourse to normal trading on stock exchanges. |
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| (Note) |
In case of a net over-lent issue, JSF will buy that issue by bidding for rights. Above explanation is about the case of net over-loan. |
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Bidding usually takes place between 11:00 and 11:45 A.M. on the ex-rights day (investors are allowed to bid until the closing time to be determined by their associated securities company, as required). Bidders are requested to make their applications by specifying the bidding shares and unit prices (normally \0.1) of the issue (investors can not apply directly to JSF). It should be noted that if there are a large number of issues eligible for bidding and if there are issues with a high allotment ratio of subscription, some changes might be applied to the hours of bidding and/or units of bidding, etc. |