Government announces subscription and allocation results of Silver Bond
***********************************************************************
According to the subscription information submitted by Placing Banks, as at the close of the subscription period at 2pm on June 14, 2017, a total of 44 842 valid applications were received for a total of HK$4,183,650,000 in principal amount of bonds.
The final issue amount is HK$3 billion. Allocation is made in accordance with the mechanism set out in the Issue Circular dated June 1, 2017. The valid applications received have been allocated different amounts of bonds up to a maximum of 10 units. There are a total of 26 935 applications for nine or fewer units. They will be allocated the full amounts applied for. The remaining 17 907 valid applications (i.e. those applying for more than nine units) will be allocated nine units each and then entered into a ballot. Of these applications, 8 870 will be allocated one additional unit.
The Silver Bond will be issued on June 23, 2017. Notifications on individual allocation results, applicable subscription moneys and amounts of any refund of application moneys will be made by the Placing Banks in accordance with the schedule set out in the Issue Circular.
A Government spokesman said, "The two-year Silver Bond pilot scheme has provided an investment product with steady returns for senior residents in Hong Kong, and further promoted the development of the relevant market. We would review the effectiveness and arrangements of the scheme, taking into account the relevant factors including market response, prevailing market conditions, etc."
Ends/Wednesday, June 21, 2017
Issued at HKT 16:15
Issued at HKT 16:15
NNNN