Hong Kong Pre-IPO Aus

What is Pre-IPO?

The Hong Kong Pre-IPO trading market is a channel provided by Phillip Securities for customers to trade Hong Kong shares one day before their official listing in the Hong Kong Exchange. Phillip Securities is the first broking house in Singapore and Hong Kong to offer customers the Pre-IPO trading channel.

The performance of stocks in the Pre-IPO trading session should not be considered as an indicator of its price and demand in the official trading session.

  Online Trades Broker-Assisted Trades
Commission 0.25% 0.30%
Minimum HKD100 HKD150
Other foreign fees:
Stamp Duty 0.1% (Round up to the nearest dollar)
CCASS fee 0.002% (Minimum HKD2.00, Maximum HKD100)
Transaction Levy 0.0027%
Trading fee 0.005%

Note: Goods & Services Tax (GST) will be applied to commission charges. Commission and exchange fees may be subject to change without prior notice. Please click here for custodian charges.

Italian financial transaction tax (“IFTT”) is applicable to buy trades on Hong Kong-listed Italian companies with market capitalization more than Euro 500 million. The applicable tax rate is either 0.1% or 0.2%, depending on the counter.

Trading Details
Order Placement (Board lots) Via1) POEMS 2.0 or

2) Your designated Trading Representative

Common order rejection messages Your orders may be rejected due to the following reasons:

  • 2043 Invalid order price – Queuing price beyond 24 bid/ask spread OR matching price of more than 10 current market bid/ask 

          More information on HKEX Securities Market Operations

          More information on HKEX Trading Mechanism 

  • Insufficient Qty – Insufficient shareholdings
  • 7073 Invalid price tick – Please refer to price spread table
  • 2036 Security halted/suspended – Stock suspended
  • 7077 Order Quantity exceeds Max Board Lots allowed – Maximum 3000 board lot shares per order size allow
  • 2036 Security halted/suspended – Stock suspended


Trading lot Not fixed
Live Price Via POEMS 2.0 (live price quote)
Exchange HKEx
Minimum bid size Share price (HKD) Minimum Bid Size (HKD)
0.01 – 0.25 0.001
> 0.25 – 0.50 0.005
> 0.50 – 10.00 0.01
> 10.00 – 20.00 0.02
> 20.00 – 100.00 0.05
> 100.00 – 200.00 0.10
> 200.00 – 500.00 0.20
> 500.00 – 1,000.00 0.50
> 1,000.00 – 2,000.00 1.00
> 2,000.00 – 5,000.00 2.00
> 5,000.00 – 9,995.00 5.00


Trading Hours
Singapore/Hong Kong Time
(Mon – Fri)
Half Day opening 02.15pm – 04.30pm
Full Day Session 04.15pm – 06.30pm

Trades done through the Pre-IPO trading channel follow the regular settlement cycle of Hong Kong. For orders done during the Pre-IPO trading session, trade date will be the listing day of the counter and will likewise be eligible for any contract amalgamation and contra.

Settlement Date2 T+2 market days
Settlement Currency HKD or SGD
Order Amalgamation Yes (Conditions for Amalgamation)
Contra Trading Yes
CPF settlement No

Note: Payment methods for trades done through Pre-IPO trading channel.


Holidays (2021)


Month Day Date Holidays Settlement Trading Day
Wednesday 01 January New Year’s Day  No  No
Friday 24 January  Lunar New Year’s Eve  No  Partial
Monday 27 January  Lunar New Year  No  No
Tuesday 28 January Lunar New Year No No
 April  Friday  10 April Good Friday  No  No
Monday 13 April Easter Monday No No
Thursday 30 April Buddha’s Birthday No No
 May  Friday  01 May  Labour Day  No  No
 June Thursday  25 June  Tuen Ng Festival  No  No
 July Wednesday  01 July  Sar Establishment Day  No  No

Thursday  01 October  National Day (obs)  No  No
Friday  02 October  Day After Mid-Autumn Fest  No  No
Monday 26 October  Chung Yeung Festival  No  No
 December   Thursday  24 December  Christmas Eve Obs-halfday  No Partial
Friday  25 December  Christmas Day  No  No
Thursday  31 December New Year’s Eve-early close  No  Partial


Month Day Date Holidays Settlement Trading Day
Friday  01 January New Year’s Day  No  No

Thursday  11 February Lunar New Year’s Eve  Yes  Full
Friday  12 February Lunar New Year  No  No
Monday  15 February Lunar New Year  No  No
April  Friday  02 April Good Friday  No  No
Monday 05 April Easter Monday No No
Tuesday 06 April Ching Ming Festival No No
May  Wednesday  19 May Buddha’s Birthday  No  No
June Monday  14 June Tuen Ng Festival  No  No
July Thursday  01 July Sar Establishment Day  No  No
September Wednesday 22 September Day After Mid-Autumn Fest  No  No

Friday  01 October National Day (Obs)  No  No
Thursday  14 October Chung Yeung Festival  No  No
December   Friday  24 December Christmas Eve Obs-halfday  No Partial
Monday  27 December Christmas Holiday Obs  No  No
Friday  31 December New Year’s Eve-early close  No  Partial

Should the due date coincide with a:

   a) Singapore public holiday – The due date will follow the traded market’s due date.
   b) Hong Kong public holiday – The due date will be the following market day