IPO Stocks Subscription

Overview

Initial Public Offering (IPO) subscription service refers to the first time a company issues shares to public investors and will be listed on the stock exchange for trading. Apart from applying through the bank's designated branches or Phone Banking Services, you can also use Hang Seng Personal e-Banking (desktop version) or Hang Seng Invest Express to subscribe at ease.

You can also apply IPO financing to increase the subscription amount of IPO with a view to increase the chances of shares allotment.

Key features

You can apply for IPO financing services to cater various investment needs.

You'll receive your IPO allotment result one day before listing through push notification if enabled or SMS.

You can use the same Hang Seng securities account to manage stock trading and subscribe any IPO listed on The Stock Exchange of Hong Kong.

You can use Hang Seng Invest Express or Personal e-Banking to check the status of IPO subscription and cancel IPO subscription online. A comprehensive IPO services is provided in one app.

How it works

You can now subscribe IPO, view the status and cancel the IPO application through Hang Seng Invest Express or Hang Seng Personal e-Banking (desktop version). The following will demonstrate how it works through Hang Seng Invest Express.

IPO subscription

Step 1
Logon to Hang Seng Invest Express and select "IPO" from the left menu
Step 1
Log on to Hang Seng Invest Express and select "IPO" from the left menu
Step 1
Log on to Hang Seng Personal Banking mobile app and select "Settings" from the left menu
Step 1
Log on to Hang Seng Invest Express and select "IPO" from the left menu
Step 1
Log on to Hang Seng Invest Express and select "IPO" from the left menu

Securities account activation

Existing Integrated Account customers

Comprehensive securities experience is just a few steps away[1]

New or non-Integrated Account customers

Open an Integrated Account and activate your securities account and other investment accounts via Hang Seng Mobile App with ease

FAQs

IPO Stocks

You must open a securities account for the application of IPO. For further information, you‘re welcome to call our Customer Service Hotline at (852) 2822 0228 or visit our branches.

Each IPO has a different subscription period. Please refer to IPO details.

The IPO subscription results will be announced the day before the IPO listed date. Please refer to the IPO details.

IPO subscription service is only available in the Hong Kong market.

Yes. You need to provide consent for Hong Kong Investor Identification Regime (HKIDR) before subscribing to IPOs.

Application amount includes 1% brokerage, 0.0027% SFC transaction levy, 0.00015% AFRC transaction levy and 0.00565% Hong Kong Stock Exchange trading fee. Customers who apply for the IPO through Hang Seng should pay the handling fee (HKD IPO: HKD100; RMB IPO: RMB85) per application for the IPO stock subscription. And such a charge will not be refunded irrespective of the allotment result or whether the company is successfully listed or not.

IPO Financing Service

You need to open an integrated account with Hang Seng for the application of IPO financing. For further information, you're welcome to call our Customer Service Hotline at (852) 2822 0228 or visit our branches.

The general terms of financing: The financing amount can be 90% of your subscription amount or below (varies among IPO stocks). You need to pay the remaining subscription amount (i.e. "deposit amount") and relevant bank service charges. The interest rate on financing will be subject to the current market environment and varies among IPO stocks.

Interest from the day of advance up to the refund day (excluding the refund day). You need to pay the interest incurred separately starting from the refund day until full repayment of the loan amount (excluding the repayment day) if you fail to repay the full loan amount on the refund day. A handling fee of HKD100 for IPO stock subscription. 1% brokerage, 0.0027% SFC transaction levy, 0.00015% AFRC transaction levy and 0.00565% Hong Kong Stock Exchange trading fee.

Other related products

Hang Seng Invest Express x etnet

  • One stop solution to trade HK stocks, A shares and US stocks
  • Place your order online with 4 simple steps
  • Effortless synchronization of traders’ watch list across all Hang Seng online platforms
  • Provide IPO subscription and IPO financing service (not applicable to US securities)

US Securities Trading Service

  • Unlimited free real-time US stocks quotes
  • Online submission of Substitute Form W-8BEN
  • Comprehensive US stocks market data
  • US market news with Chinese translation[3]

Useful information

Need more help?

Call our 24-hour hotline

Visit our branches

Footnote

Disclaimer

Investors should note that all investment involves risks. Prices of securities may go up or down and may even become valueless. Investors should read the relevant prospectus for detailed information about the proposed offer and seriously consider if investment in the relevant shares is suitable for his/her investment needs by reference to his/her financial situation, investment experience, investment objectives and other conditions and needs before deciding whether to invest in the relevant shares. If required, investors should obtain independent legal, financial and other professional investment or other advice before making any investment decision.

Other point(s) to note

  1. For IPO financing application made through Hang Seng Personal e-Banking, you are responsibile for checking for the status under "Applied IPO" and for any reply email notifying you that your application has been rejected. This email will be sent to "Inbox" in Hang Seng Personal e-Banking.
  2. Any allotted shares and/or refund amount will be paid to you after the allotment result of the relevant Public Offer is made available to the Bank. If the refund amount is not sufficient to settle the loan amount, you must pay interest on the outstanding amount of the loan at the specified unauthorised overdraft interest rate.
  3. On the refund day specified in the relevant prospectus of the IPO stocks (the Payment Due Day or Refund day is subject to any announcement or subsequent revision by the issuer of the relevant IPO stocks), you must repay the sum payable in respect of the loan in full in one lump sum. If you are unable to repay the loan and the interest accrued on the Payment Due Day, you should deposit the outstanding amount in cash to the payment account of such loan or place a selling order with the Bank to sell the subscribed shares before the closing of the morning session of the continuous trading session ("Morning Closing") on the first listing day of the IPO stock for settlement of the outstanding loan and accrued interest. If the sum outstanding under this Loan is not fully repaid and no such sell order is placed or such sell order cannot be executed before the Morning Closing on the First Listing Day, the Bank shall be entitled to, without demand, notice or any other action with respect to you, sell or otherwise dispose of all or some of the subscribed shares on your behalf at any time during the afternoon session of the continuous trading session on the First Listing Day (or at any time the Bank deems expedient) and (if applicable) to cancel or amend (whether in whole or in part) any selling order that you have placed in relation to the subscribed shares that cannot be fully executed before the Morning Closing on the First Listing Day to the extent the Bank considers appropriate or at any time and in any way the Bank deems expedient.

Remark(s)

  1. You may also activate your securities account and other investment accounts via Hang Seng Mobile App (not available to customers who only hold joint-named Integrated Account(s)).

To borrow or not to borrow? Borrow only if you can repay!