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 | 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.
| 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:
More information on HKEX Securities Market Operations More information on HKEX Trading Mechanism
|
| 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.
2021
| Month | Day | Date | Holidays | Settlement | Trading Day |
| January |
Friday | 01 January | New Year’s Day | No | No |
| February |
Thursday | 11 February | Lunar New Year’s Eve | No | Partial |
| 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 | Day After Ching Ming | No | No | |
| Tuesday | 06 April | Day After Easter Monday | No | No | |
| May | Monday | 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 |
| October |
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
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
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