Hong Kong Pre-IPO

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.

Trading Details

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

Exchange Fee and Other Charges

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.

Trading Hours

Singapore/Hong Kong Time (Mon – Fri)	Half Day opening	02.15pm – 04.30pm
Singapore/Hong Kong Time (Mon – Fri)	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.

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

Latest Hong Kong Pre-IPOs

List of upcoming Pre-IPOs and live price feed

Please contact talktoglobalmarkets@phillip.com.sg or call 6531 1210.

Holidays (2023)

2023

Month	Day	Date	Holidays	Settlement	Trading Day
January	Monday	02 January	New Year’s Day (obs)	No	No
	Monday	23 January	Lunar New Year	No	No
	Tuesday	24 January	Lunar New Year	No	No
	Wednesday	25 January	Lunar New Year	No	No
April	Wednesday	05 April	Ching Ming Festival	No	No
	Friday	07 April	Good Friday	No	No
	Monday	10 April	Easter Monday	No	No
May	Monday	01 May	Labour Day	No	No
May	Friday	26 May	Buddha’s Birthday	No	No
June	Thursday	22 June	Tuen Ng Festival	No	No
October	Monday	02 October	National Day (obs)	No	No
October	Monday	23 October	Chung Yeung Festival	No	No
December	Monday	25 December	Christmas Day	No	No
December	Tuesday	26 December	Christmas Holiday (obs)	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

Physical Scrip Deposit

	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$10.00 (Subjected to 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.