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 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:Incorrect price spread (please refer to minimum bid size table )
  • Price range beyond 20 bids
  • Order quantity exceeded 3,000 lots
  • Trading limit exceeded
  • Short sell
  • 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
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 (2019)

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