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Government announces subscription and allocation results of Silver Bond
     The Government announced today (July 25) the subscription and allocation results of the fourth 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 2pm on July 18, 2019, a total of 56 564 valid applications were received for subscribing a total of HK$7,918,860,000 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 July 4, 2019. The valid applications received have been allocated different amounts of bonds up to a maximum of six units. For the 16 373 applications seeking five or fewer units, they will be allocated the full amounts applied for. The remaining 40 191 applications (i.e. those applying for more than five units) will be allocated five units each and then entered into a ballot. Of these applications, 32 160 will be allocated one additional unit.
     The Silver Bond will be issued on July 29, 2019. Notifications on 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.
     A Government spokesman said, "Silver Bond has provided an investment product with steady returns for senior residents in Hong Kong and promoted the further development of the bond market. We will review the effectiveness and arrangements of the scheme having regard to market response, prevailing market conditions and other relevant considerations."
Ends/Thursday, July 25, 2019
Issued at HKT 16:30
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