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New Stock Subscription

1、 Advantage of subscribing for new shares in Hong Kong

        1. 1 The successful rate of new shares in Hong Kong stock market is high. 

            The number of investors participating in billing in Hong Kong stock market is limited, so the arrangement of winning the contract is very friendly to retail investors. Every investor who subscribes can get at least one hand (100 shares) of shares. The opening price rises by nearly 20%. All the investors who participate in the subscription are happy. Investors with large capital can also subscribe through international distribution channels.

            When Hong Kong's new shares were listed, a considerable number of companies used 90% of their shares as international allotments (for the participation of investors with large-scale institutions or funds), and 10% of their shares were used for public offering (drawing lots). The rate of successful subscription through international allotments may be higher or even reach 100% full allotment.

        1. 2 Hong Kong has no limit on the rise and fall. If new shares are popular in the market, the first price can rise by tens of percentage points or even several times. 

            Hong Kong has a "dark disk" system. Investors can use the situation of the dark disk as a reference on the day before listing to decide whether to sell directly or hold for a period of time on the opening day.

        1. 3 Hong Kong stock market has more new options

            Every year, hundreds of companies are listed in Hong Kong, including traditional banks and securities firms, such as the Central Plains Bank and China Merchants Securities, which were listed in 2017, as well as new-style Internet stocks such as Metro, Millet and Zhongan Online.

            In addition to being from the mainland and Hong Kong, companies from Singapore, Taiwan, Europe and Canada come to Hong Kong for listing. Compared with the mainland, there are undoubtedly more choices for Hong Kong stock market reform.

2、 Admission fee:

        The lowest subscription for new shares in Hong Kong is usually the entry fee, i.e. the initial subscription fund. For details, please refer to the prospectus for new shares. Note that the admission fee is not a fee, but the minimum amount of money required to subscribe.

3、 subscription mode of new shares

        3.1 New share subscription supports cash subscription and financing subscription.

        3.2 Cash subscription means that the customer only uses withdrawable funds to subscribe for new shares.

        3.3 Financing subscription refers to the subscription of new shares by a securities firm, which includes the amount of outstanding shares and the amount of stock mortgage.

        3.4 Cash subscription and financing subscription belong to common subscription.

4、 the closing date of new share subscription and the deduction date

        4.1 The deadline for subscription will be earlier than the deadline announced by the exchange due to the need to process the subscription procedures. The deadlines for ordinary subscriptions (cash subscriptions and financing subscriptions) are generally set by the brokers themselves.

        4.2 The amount of funds used for subscription will be frozen in real time after the application is launched and deducted on the deadline of subscription.

        4.3 Customers need to ensure that subscription funds are frozen normally when subscription deductions are made.

        4.4 On the same day, only one new share was subscribed and the subscription frozen funds were abnormal. The number of subscribed shares was reduced until the funds met the subscription conditions to ensure the subscription qualifications.

        4.5 Ordinary subscription supports modification and cancellation of subscription tasks before the subscription deadline.

5、 announcement of the result of the successful signature and refund

        5.1 The announcement of the results of the signing is based on the statement of the day. If the successful signing and the listing arrangement of the new shares are normal, the day of the announcement of the results of the successful signing will see the stock position.

        5.2 For ordinary subscriptions, if part of the subscription is successful, the principal of the part that has not been signed will be returned to the subscription account on the day of the announcement of the result of the successful subscription. In case of special circumstances, the date of refund announced by the exchange shall prevail.

6、 Common Questions on New Stock Subscription

        6.1 Cash Subscription Deduction Time: Subscription funds will be frozen in real time after the application is launched, and will be deducted on the day of the subscription deadline of securities firms.

        6.2 Cash subscriptionscan be modified and revoked before the subscription deadline.

        6.3 Financing subscription, leverage can adjust the allocation of withdrawable amount and financing amount according to their own needs.

        6.4 Cash subscription and financing subscription can not be applied at the same time, only two choices.

        6.5 The lottery of new share subscription is decided by drawing lots, and the rules are decided by the exchange.