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.
| Order Placement (Board lots) | Via1) POEMS 2.0 or
2) Your designated Trading Representative |
| Common order rejection messages |
|
| 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 | |
| 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.
For more information, please contact us.
2019
| Month | Day | Date | Holidays | Settlement | Trading Day |
| January | Tuesday | 01 January | New Year’s Day | No | No |
| February |
Monday | 04 February | Lunar New Year’s Eve | No | Partial |
| Tuesday | 05 February | Lunar New Year | No | No | |
| Wednesday | 06 February | Lunar New Year | No | No | |
| Thursday | 07 February | Lunar New Year | No | No | |
| April | Friday | 05 April | Ching Ming Festival | No | No |
| Friday | 19 April | Good Friday | No | No | |
| Monday | 22 April | Easter Monday | No | No | |
| May | Wednesday | 01 May | Labour Day | No | No |
| Monday | 13 May | Buddha’s Birthday | No | No | |
| June | Friday | 07 June | Tuen Ng Festival | No | No |
| July | Monday | 01 July | Sar Establishment Day (hk) | No | No |
| October | Tuesday | 01 October | National Day (obs) | No | No |
| Monday | 07 October | Chung Yeung Festival | No | No | |
| December | Tuesday | 24 December | Christmas Eve Obs-halfday | No | Partial |
| Wednesday | 25 December | Christmas Day | No | No | |
| Thursday | 26 December | Christmas Holiday (obs) | No | No | |
| Tuesday | 31 December | New Years Eve-early Close | No | Partial |
Note: Information is correct at time of posting (7 June 2018)
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
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