ECONOMY | Tony Chua, Hong Kong

155,835 valid applications for iBond subscription received

The retail bond will be issued on July 28 while its listing and dealings on the Stock Exchange will take effect on July 29.

Among all the valid applications for the inflation-linked retail bond the iBond, the Government on Tuesday announced that those who have applied for 44 units or less will be allocated the full amount applied for, and there are 150,869 such applications.

In addition, there are 4,966 valid applications that have applied for more than 44 units. Each of them will be allocated 44 units first, and 1,344 of them will be allocated one additional bond unit based on ballot results.

A total of 155,835 valid applications have been received for over $13 billion in the principal amount for the bond. The final issue amount is $10 billion, according to a government report.

The iBond will be issued on July 28. Listing and dealings of the iBond on the Stock Exchange will become effective on July 29.

Notifications on the individual allocation results, the applicable subscription monies and the amount of any refund of application monies will be made by the placing banks and Hong Kong Securities Clearing Company in accordance with the schedule set out in the issue circular.

The Government said the total number of applications and total application amount are up to expectation. Both are at high levels as compared with those for recent retail bond offerings.

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