Frequent Asked Questions
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IPO Subscription
What are the benefits of subscribing to an IPO through CHIEF?
  • Zero handling fee

    We waive the handling fee of online subscriptions, and also provide up to 100% margin financing and placement for professional investors.
    (A HK$50 / RMB¥50 administrative fee will be charged for online subscription during the extended subscription period)

  • Day and night service

    24 hours support is provided for online subscription services. Complemented by 24/7 direct deposits through the Simplified Electronic Direct Debit Authorization (SDDA), you can subscribe for new stocks anytime, anywhere.

  • Comprehensive information

    Provision of IPO research reports provide hot IPO notifications, oversubscription alerts and sponsor information to assist you in making informed decisions.

  • Simple handling

    Online IPO subscription is simple and easy, as fast as 5 seconds to complete the subscription. We also support subscription via phone.

  • Fast Refund

    Wholly or partially returned subscription funds will be deposited to the client’s securities account at the close of trading on the day of refund and can be used for grey market transactions without requiring additional deposit nor wait for the refund cheque.

  • Grey Market

    Supports multi-channel (phone, online trading system, mobile APP) real-time grey market trading methods with real-time quotes and charts.

What are the advantages of grey market trading with CHIEF?

Information such as real-time grey market quotes and charts, market transaction records, price depth etc. can help clients take control of grey market opportunities.

When does the IPO subscription end?

Under an extended application period, clients can apply until 10:00 on the last day of the subscription period. If clients do not have a CHIEF account, they can complete an application through ‘E-Account Opening’ before 09:00 to make an IPO subscription instantly.

What are the IPO subscription procedures and methods?

Nominee Services

Subscription Full Payment (Non-margin) Margin Financing (Margin)
Handling fee Waived for applications via online
Application via phone HK$50 / RMB¥50
(An additional application fee of HK$50/ RMB¥50 is required for online applications during the extended subscription period)
Application via phone and online HK$100 / RMB¥100
Application commences 09:00 of the initial offering day 12:00 of the initial offering day
Subscription Period Usually 3 and a half days (certain stocks may extend their subscription period)
Application ends 17:00 on the trading day before the closing day of the subscription period
(Application end time could be adjusted without prior notice, refer to the website for the correct end date)
10:00 on the trading day before the closing day of the subscription period (or when quota full)
Extended subscription deadline
(an additional administration fee of HK$50/RMB¥50 is required)
From 17:00 on the trading day before the closing day of subscription to 10:00 on the last day of subscription. (Not applicable for amendments or cancellations of applications during the normal subscription period) Not applicable
Margin cost Not applicable Set according to the market prime rate, refer to ‘Chief Trader’ mobile APP or call to enquire for more details
Subscription methods

1. Call or visit our branches/ head office to apply
2. Through ‘Chief Trader’ mobile APP, Top Trader Web or Top Trader Professional version
3. Via ‘Chief Easy’ online customer service platform

Payment methods Deposit the amount payable along with any handling fees to the securities account before 10:00 of the last day of the subscription period

Deposit methods

Deposit the amount payable along with any handling fees to the securities account by 10:00 on the day before the last day of the subscription period

Deposit methods

Share allotment successful Shares allotment will be deposited to the client’s securities account and notified by SMS one day before the listing date
Funds deduction date 12:00 on the last day of the subscription period

Deposit methods
12:00 on the day before the last day of the subscription period

Deposit methods
Refund The full or partial amount relating to unsuccessful applications will be deposited before trading ends on the day of refund into the client’s securities account

Non-nominee Services

Application Form White Form (Submit by hand) Yellow Form (Submit by hand)
Distribution points and time Available at receiving banks on the first day of the subscription period Available at CHIEF’s head office in the afternoon on the first day of the subscription period
Handling fee Free of charge
Application commences 09:00 of the initial offering day
Subscription period Usually 3 and a half days (certain stocks may extend their subscription period)
Application ends Clients can hand in the application form to receiving banks: Bank receiving deadline at 12:00
Application method Collect the white form from receiving banks, fill in and submit the form together with a bank draft/ cheque to relevant banks Collect the yellow form from CHIEF’s head office, fill in and submit the form with a bank draft/ cheque to relevant banks
Payment method Submit the bank draft/cheque together with application form
Share allotment successful Shares in physical scrip will be posted to the applicant on the listing date Shares will be deposited into the applicant’s securities account, successful applicants will be notified one day before the listing date
Funds deduction date The last day of banks subscription period
Refund Cheque will be received on the listing date from the shares registrar, if the refund is not received after 3 days, please contact the shares registrar

Remarks: The allotted shares applied by individual accounts will only be deposited to the account with same registered name and cannot be deposited into joint name accounts

How to subscribe to an IPO online?

This can be done through ‘Chief Trader’ mobile APP, Top Trader web version or professional versions, or login via ‘Chief Easy’ online customer services platform, the handling fee will be waived for full payment subscriptions.

Subscription Procedure via Mobile APP

Subscription Procedure via Mobile APP:
1. After downloading and logging into ‘Chief Trader’ mobile APP, you can access a list of current IPOs by selecting ‘IPO subscription’ on the main dashboard, after identifying the IPO you wish to subscribe to, select ‘Full Payment’
2. Review the terms of the subscription and select the number of shares, after verifying all details are correct, select ‘next steps’, upon successful registration a confirmation number will appear

Top Trader Professional Download Version Subscription Procedure

Top Trader Professional Download Version Subscription Procedure
Upon registration, input the login password and select ‘IPO subscription’ under ‘HK stocks’, where clients will be immediately directed to the ‘Chief Easy’ interface to carry out ‘Full Payment’

Web Version Subscription Procedure

Web Version Subscription Procedure
1. After logging into ‘Chief Easy’, select ‘IPO subscription’ from the menu and select ‘Apply’
2. Select ‘Online Subscription’, review the terms of the IPO subscription and select the number of shares, after verifying all details are correct, select ‘Apply’, upon successful confirmation a confirmation number will appear, clients can print or save this number for record
How can I undertake margin financing for an IPO online?

Margin financing can be done by ‘Chief Trader’ mobile APP, Top Trader web version and professional download version or ‘Chief Easy’ online, with loan rates available up to 100% of the subscription amount, allowing you more flexibility in arranging your finances and increase your chances in share allotment.

Items
Handling fee HK$100 / RMB¥100
Enrollment start 12:00 on the first (offering day)
Subscription Period Mostly 3 and a half day (some stocks may extend the subscription period)
Margin cost The rate will be announced on the first offering day
Payment Deposit amount payable and handling fee to stock Account by 10:00 on the day before the last day of subscription period

Deposit Method
Notification Shares allotment will be deposited to clients' securities' account. Clients will be notified by SMS on the day before listing date

Subscription procedure via mobile platform

Subscription procedure via mobile platform
1. After downloading and logging in to the ‘Chief Trader’ mobile APP, you can access a list of current IPO by selecting ‘IPO subscription’ on the main dashboard, after identifying the IPO you wish to subscribe to, select ‘margin financing’. Clients must acknowledge and confirm that a handling fee will be required and cancellation may not be available
2. Review the terms of the subscription and select the number of shares, after verifying all details are correct select ‘next steps’, upon successful registration a confirmation number will appear

Top Trader Professional Download Version Subscription Procedure

Top Trader Professional Download Version Subscription Procedure
Upon registration, input the login password and select ‘IPO subscription’ under ‘HK stocks’, where clients will be immediately directed to the ‘Chief Easy’ interface to apply for margin financing

Web Version Subscription Procedure

Web Version Subscription Procedure
1. After logging into ‘Chief Easy’, select ‘IPO subscription’ from the menu and select ‘Apply’
2. After reading the terms of the IPO subscription, select the margin rate required and number of shares, after verifying all details are correct select ‘Apply’. A confirmation number will appear upon successful confirmation, client can print or save this number for record. Client must acknowledge and confirm that a handling fee will be required and cancellation may not be available
How will I know if my application has been received?

You can review your subscription process by logging into the ‘Chief Trader’ mobile APP or the ‘Chief Easy’ online IPO subscription home page to search for number of shares registered under the ‘IPO subscription’ section. We will also notify you via email.

Can I make amendments or cancel my subscription application?

If subscribing by full payment, this is possible. Do note that under a ‘normal subscription period’, amendments or cancellations for full payment subscriptions must be made by 17:00, one trading day before the subscription closing day. During ‘extended subscription period’, amendments or cancellations must be made no later than 10:00 on the subscription end day. Margin financing for IPO subscriptions can accept amendments to the share amount, but only additional shares. Cancellations or reduce share requests require processing by our branches or head office via phone.

How will I find out the results of my application?

Client will receive the results via SMS one day before the listing date. You can also access the results online via the IPO subscription home page under ‘allotment record’ to find out the number of shares allotted and listing price.

Does CHIEF provide grey market trading?

Grey market trading is provided. The trading period from 16:15 to 18:30, one working day before the stock is listed on the Hong Kong stock exchange. Client can trade during this time via ‘Chief Trader’ mobile APP, Top Trader web version and professional download version. Trading can also be conducted by calling your branch or the grey market trading hotline (852) 2203 0500 / (852) 2500 9118 (until 18:30).

How can client find out about IPOs’ news?

Clients can get access to the market’s latest IPO information by opting in to receive ‘push notifications’ via ‘Chief Trader’ mobile APP. Alternatively our professional research team will also provide detailed articles and reports that can be access on our company website to help you undertake the advantages and risks of each IPO and make thorough assessments to make leading and informed decisions.

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