Stocks & Shares

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.

  Online Trades Broker-Assisted Trades
Commission 0.25% 0.30%
Minimum HKD100 HKD150
Other foreign fees:
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). GST will also be applicable on related foreign fees such as stamp duty, exchange and trading fees from 1st October 2021. Fees & charges may be subject to changes without prior notice. Please click here for custodian charges. (effective 1 April 2022)

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.

Order Placement (Board lots) Via1) 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

 

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.

2021

Month Day Date Holidays Settlement Trading Day
 January Friday  01 January  New Year’s Day  No  No
 February  
Thursday  11 February  Lunar New Year’s Eve  No  Partial
Friday  12 February  Lunar New Year  No  No
Monday  15 February  Lunar New Year  No  No
 April  Friday  02 April Good Friday  No  No
Monday 05 April Easter Monday No No
Tuesday 06 April Ching Ming Festival No No
 May  Wednesday  19 May  Buddha’s Birthda  No  No
 June Monday  14 June  Tuen Ng Festival  No  No
 July Thursday  01 July  Sar Establishment Day  No  No
 September  Wednesday  22 September  Day After Mid-Autumn Fest  No  No
 October  Tuesday  01 October  National Day (Obs)  No  No
Thursday  14 October  Chung Yeung Festival  No  No
 December   Friday  24 December  Christmas Eve Obs-halfday  No Partial
Monday  27 December  Christmas Holiday Obs  No  No
Friday  31 December  New Year’s Eve-early close  No  Partial

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.