Category Fraud Alerts HK

The Government announced today (December 18) the subscription and allocation results of the fifth Silver Bond issued under the retail part of the Government Bond Programme.

According to the subscription information submitted by Placing Banks and Designated Securities Brokers, as at the close of the subscription period at 2 pm on December 11, 2020, a total of 135 243 valid applications were received for subscribing a total of HK$43,224,250,000 in principal amount of bonds.

The final issue amount is HK$15 billion. Allocation is made in accordance with the mechanism set out in the Issue Circular dated November 11, 2020. The valid applications received have been allocated different amounts of bonds up to a maximum of 14 units. For the 56 632 applications seeking 13 or fewer units, they will be allocated the full amounts applied for. The remaining 78 611 applications (i.e. those applying for more than 13 units) will be allocated 13 units each and then entered into a ballot. Of these applications, 45 720 will be allocated one additional unit.

The Silver Bond will be issued on December 22, 2020. Notifications of individual allocation results, applicable subscription moneys and amounts of any refund of application moneys will be sent to applicants in accordance with the schedule set out in the Issue Circular.

The Financial Secretary, Mr Paul Chan, said, “The latest batch of Silver Bond has attracted substantial demand from senior residents. It is evident that the launch of Silver Bond can provide an investment option with steady and reliable return for senior residents’ retirement capital while promoting the further development of the local retail bond market. We will review the arrangements of the scheme having regard to market response, prevailing market conditions and other relevant considerations.”




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