Hong Kong 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.

Order Placement (Board lots) Via

1) POEMS 2.0 or

2) Your designated Trading Representative

Common order rejection messages

Your orders may be rejected due to the following reasons:

  • 2043 Invalid order price – Queuing price beyond 24 bid/ask spread OR matching price of more than 10 current market bid/ask

More information on HKEX Securities Market Operations

More information on HKEX Trading Mechanism

  • Insufficient Qty – Insufficient shareholdings
  • 7073 Invalid price tick – Please refer to price spread table
  • 2036 Security halted/suspended – Stock suspended
  • 7077 Order Quantity exceeds Max Board Lots allowed – Maximum 3000 board lot shares per order size allow
  • 2036 Security halted/suspended – 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

 

Stamp Duty 0.13% (rounded up to the nearest dollar) with effect from 1 August 2021
CCASS fee 0.002% (Minimum HKD2.00, Maximum HKD100)
Transaction Levy 0.0027%
Trading fee 0.005%

Note: All fees and charges are subject to Goods & Services Tax (GST). 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.

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.

 

  1. Limit order – order will be executed at order price or better.
  2. All orders are only valid for one trading day. Orders not done will be cancelled at the end of each trading day.
  3. Starts on last Sunday of March and ends last Sunday of October.
  4. Should the due date coincide with Singapore public holiday/s – The due date will follow the traded market’s due date.

2022

Month Day Date Holidays Settlement Trading Day
January Monday 31 January Lunar New Year’s Eve No Partial
February Tuesday 1 February Lunar New Year No No
Wednesday 2 February Lunar New Year No No
Thursday 3 February Lunar New Year No No
April Tuesday 5 April Ching Ming Festival No No
Friday 15 April Good Friday No No
Monday 18 April Easter Monday No No
May Monday 2 May Labor Day (obs) No No
Monday 9 May Buddha’s Birthday No No
June Friday 3 June Tuen Ng Festival No No
July Friday 1 July Sar Establishment Day No No
September Monday 12 September Day After Mid-autumn Fest No No
October Tuesday 4 October Chung Yeung Festival No No
December Monday 26 December Christmas Holiday (obs) No No
Tuesday 27 December Christmas Next Day No No

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

  HK
Scrip Charge S$1 per Transfer Form (Each Transfer Form can only hold up to 5 certificates)
Courier Fees (<20 certificates) S$21
Courier Fees (>20 certificates) S$1.05 per certificate
PSPL Handling Fees S$10.70 (inclusive of GST)

Rates may change from time to time at the discretion of Phillip Securities Pte Ltd.

There are other miscellaneous fees for physical scrips deposition. For more details, please send in your enquiry to talktoglobalmarkets@phillip.com.sg

You can pay by any of the following payment methods:

  • Cheque, payable to “PHILLIP SECURITIES PTE LTD
  • EPS (notify your assigned Trading Representative)
  • Debit from clients’ trading accounts if there are sufficient funds in their Phillip Financial, Cash Management or Investment account (clients must indicate their instructions in the “Remarks” column).

Note: We will not initiate share transfer before receiving payment from clients.