An Initial Public Offering (IPO) is when a private company issues common stocks to the public for the first time. Financial institutions would usually assist the listing company with pricing, as well as, underwriting issued shares. The market offering IPO shares is called primary market. Through this market, companies can raise funds for the use of future business development. After IPO shares are successfully allotted to subscribers, subscribers automatically become one of the shareholders of the company. Shareholders can trade the IPO shares via the secondary market, which is the Hong Kong Stock Exchange.

IPO online subscription is available to clients who have signed up for the Phillip’s On-line Electronic Mart System (POEMS). Please click here for account opening details.
After logging in to POEMS, choose “Apply IPO Now” under the “Teletext” system. Then, choose the IPO Code, and enter the number of subscribed shares and other necessary information.
Company clients can enjoy IPO margin financing up to 90%. For details, please read the following section “What is margin financing?”

In the past, investors could only subscribe for IPO shares in person or via their Account Executives. Investors in the old days must go to the brokers’ office to get subscription forms; have to fill the form in by hand; or take the risk of miscommunication with their Account Executives.

Nowadays, clients can subscribe for IPO online! This service is exclusive to our clients. They can do it all themselves in the easy way. All that needs to be done is to complete the subscription form online and submit it with a click of a button; only take a few of minutes; making IPO ever more convenient and simple.

In addition, research reports on IPO stocks will be written by our research department, so that our clients can have better knowledge about the business and outlook of the companies before subscribing the IPO shares.

• Handling fee: $100
• Transaction levy: 0.003%
• Trading fee: 0.005%
• Commission rate: 1%
• Interest: Please refer to our announcement that will be announced on the first offering day.

Market response of particular IPO is always the main reason affecting the chance of shares allotment. Therefore large shares subscription volume can boost the chance of successful allotment. With margin financing service, you can use the capital in hand to subscribe more IPO shares. If there is over-subscription, you only need to pay for the balanced amount of the borrowing. All company clients can enjoy our IPO financing service. For subscribing IPO listed on the main board, margin ratio reaches maximum of 90%, meaning that clients are only required to pay 10% of the subscription fee in cash. The maximum margin ratio for GEM (Growth Enterprise Market) board stocks reaches 50%. Please note that debt financing of the margin accounts in our company does not involve credit service companies; also the interest rate will not be affected by inter-bank lending rate. Want to join us? Please click here for account opening details..

Margin financing service is limited to stocks listed on the main board or GEM (Growth Enterprise Market) board of HKEX. Our company also provides margin financing service for IPO placement to our clients.

We are the first financial institution granted license for a trading platform (PhillipMart) for pre-market trading of IPO shares one day prior to the official listing day from SFC.Those who have already been or is expected to be allotted shares could trade those shares on PhillipMart before the shares will be listed on the HKEX and ready for AMS. For a majority of IPOs, we offer PhillipMart trading one day prior to the listing date. Only Phillip clients are allowed to trade via the PhillipMart platform.

We will announce whether PhillipMart is available for a particular IPO on the announcement date of the allotment result. The trading hours is between 4:15p.m. – 6:30 p.m., and the settlement date will be 2 trading days after the listing date.