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.

Brokerage
  Online Trades Broker-Assisted Trades
Commission 0.25% 0.30%
Minimum HKD 100 HKD 150
Other foreign fees:
Stamp Duty 0.13%

(Round up to the nearest dollar)

CCASS fee 0.002% (Minimum HKD2.00, Maximum HKD100)
Transaction Levy 0.0027%

0.00015% (rounded to the nearest cent) wef 1 January 2022

Trading fee 0.005%

Note: All fees and charges are subject to Goods & Services Tax (GST). GST will also be applicable on related foreign fees such as stamp duty, exchange and trading fees from 1st April 2022. Fees & charges may be subject to changes 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
  •  

 

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
Settlement

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 (2022)

2022

Month Day Date Holidays Settlement Trading Day
January
Monday 31 January Lunar New Year’s Eve  No  Partial
February


Tuesday 1 February Lunar New Year  No No
Wednesday 2 February Lunar New Year  No  No
Thursday 3 February Lunar New Year  No  No
April  Tuesday 5 April Ching Ming Festival  No  No
Friday 15 April Good Friday No No
Monday 18 April Easter Monday No No
May 

Monday 2 May Labour Day (obs)  No  No
Monday 9 May Buddha’s Birthday    
June Friday 3 June Tuen Ng Festival  No  No
July Friday 1 July Sar Establishment Day  No  No
September Monday 12 September Day After Mid-Autumn Festival  No  No
October 

Tuesday 4 October Chung Yeung Festival  No  No
December   Monday 26 December Christmas Holiday (obs)  No  No
Tuesday 27 December Christmas Next Day  No No

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

   c) any orders that you have placed after 425pm on a Full day market HK trading will be brought forward to the next market day
   d) any orders that you have placed after 1225pm on a Half trading will be brought forward to the next market day