Over-subscribing to IPO
In some case, IPO maybe oversubscribed. The offering company may go through balloting/allocation processes to determine whether an applicant will receive any allotment and in what quantity. Applicant may be tempted to subscribe for a bigger quantity than intended for increased chance of successful shares allotment. However, applicant may receive shares with total quantity applied and will have to pay the full cost if IPO is not oversubscribed.

Market risk
Share price may fluctuate from time to time or it may drop below its initial offer price on the first day of listing.

Company risk
It is vital to understand thoughtfully the company and their business you are investing in. You should study the prospectus, financial reports and seek professional advices before you make any investment decision.

IPO delay or suspension
Applicants will also need to pay the handling fee and/or interests even though an IPO has been delayed or suspended for any reason.

For applications lodged by yellow form, allotted shares will be deposited into applicants' accounts in Chief, whereas for applications lodged by white form, allotted shares in physical stock certificate will be posted to applicants directly. Therefore, white form applicants need to bear the risk of lost mail while the applicants cannot sell their allotted shares on the first day of listing. HKD$5 scrip fee will also be charged for depositing each transfer deed. Therefore we encourage our clients to apply IPO through yellow form or Non-financing IPO Nominee Services.

Note: Yellow form will be available at our headquarter and branches on the first day of subscription period.
White form will be available at receiving banks on the first day of subscription period.

You can apply IPO through us if you have submitted all documents for opening a securities account (completed application form, valid address proof, etc.). Allotted shares will be stored separately before your account has been activated. You can withdraw your shares if your account cannot be opened successfully.

No, all applications will be processed immediately, so you cannot amend or cancel your application.

No. There is only one situation where you may make more than one application for the Public Offer Shares. If you are a nominee, you may lodge more than one application in your own name on behalf of different beneficial owners. Mark each beneficial owner in the box of “For nominees” on the application. (Mark all beneficial owners if it is joint beneficial owners.)

The allotted shares that applied by individual accounts cannot be deposited into joint-name accounts. Allotted shares that applied by join-name accounts cannot be deposited into individual accounts as well.

Please refer to “IPO Insight” in “IPO Express” or you can visit HKEX website.

We will inform customers with allotted shares (except white form applicant) on one day before the listing day (after 4:00pm). You can use your HKID number to check the allotment result via newspaper / HKEX website / designated allotment website. Allotted shares will be deposited into applicants' accounts on the first day of listing. For more details related to listing schedule, please refer to prospectus/ offering memorandum.

For applications through Chief IPO Nominee Services, funds will be credited to applicants’ securities accounts on the first day of listing (for custodian accounts), or bank in to pre-set bank accounts (for cash account). For applications through white form / yellow form, cheques will be posted to applicants' addresses by the Share Registrar of issuer. Please contact the Share Registrar of the issuer if no cheque had been received within 3 working days.