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:
|Trading lot||Not fixed|
|Live Price||Via POEMS 2.0 (live price quote)|
|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)|
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)|
|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
|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 email@example.com
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.