Government announces subscription and allocation results of Silver Bond
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According to the subscription information submitted by the placing banks and designated securities brokers, as at the close of the subscription period at 2pm on July 30, 2021, a total of 256 847 valid applications were received for subscribing a total of HK$67,863,170,000 in principal amount of bonds.
The final issuance amount will be HK$30 billion. Allocation is made in accordance with the mechanism set out in the Issue Circular dated June 29, 2021. The valid applications received have been allocated different amounts of bonds up to a maximum of 14 units (with each unit being HK$10,000). For the 79 367 applications seeking 13 or fewer units, they will be allocated the full amounts applied for. The remaining 177 480 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, 58 282 will be allocated one additional unit.
The Silver Bond will be issued on August 10, 2021. 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.
The Financial Secretary, Mr Paul Chan, said, "We are pleased to note that the latest batch of the Silver Bond has attracted substantial demand from the public. This shows that the issuance of the Silver Bond can provide a safe investment option with stable return for citizens amid the current uncertain investment environment. Lowering the eligible age for subscription of the Silver Bond from 65 to 60 has allowed more citizens to participate, and it would further encourage financial institutions to tap into the immense potential of the silver market. Going forward, we will keep under review the effectiveness of the scheme arrangements having regard to market response, prevailing market conditions and other relevant considerations."
Ends/Friday, August 6, 2021
Issued at HKT 16:30
Issued at HKT 16:30
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