5. Reference price
- HNX calculatesand announcesdaily reference price of securitiesof trading registration.
- Reference price of a stock being traded is the weighted average ofall continuous order matching prices of the most recent trading day.
- Reference price of newly registered stock in the first trading day is initiated by issuing organization and approved by HNX.
- In the first trading day of newly registered stock or first re-trading day of stocks without trading for over 25 sessions, HNX only receive buy order and sell according to continuous order matching method; HNX will not execute buy and sell order by negotiation method until the reference price is set from result of the continuous order matching method.
- In case of stocktransactionswithout devidend oraccompanied rights, the reference price in the ex-right dateis specified on the basis of weighted average of all prices of the most recent trading day with adjustmentaccording to the value of dividend received or value of accompaniedrights, excluding the followings:
+ Company issues convertible bond;
+ Company issues more stocks with higher price than the average price of the ex-right date.
- In case of stock split and consolidation, the reference price in a re-trading day is specified onthe basis of weighted average price in the trading day before the stock split and consolidation with adjustment according to the rate of stock split and consolidation.
- In case of necessity, HNX may apply reference price specification method after approved by SSC.