Initial Public Offerings

Last Update:June 1, 2013

Terms and Conditions

1. All initial public offerings subscription applications submitted through this channel are subject to review and final approval by Phillip Securities (Hong Kong) Limited (the “Company”). Submission of application(s) through this channel does not represent that the application(s) is/are valid or successful. The Company, the listing company or the Underwriters’ Representatives, or their respective agents have absolute discretion and reserves all rights to reject any application without obligation to provide any reason(s).

2. Applicants eligible to apply for Hong Kong offered shares (“Shares”)
You can apply for Shares available for subscription if you or any person(s) for whose benefit you are applying, are an individual, and:
a. are 18 years of age or older;
b. have a Hong Kong address;
c. are not a U.S. person (as defined in Regulation S);
d. are outside the United States; and
e. are not a legal or natural person (except qualified domestic institutional investors) in the PRC.

3. The number of joint applicants must not exceed four.

4. The Shares are not available to existing beneficial owners of the Shares, or the chief executives, directors or supervisors of the listing company or any of its subsidiaries, or their respective associates (as defined in the Hong Kong Listing Rules) or any other connected persons (as defined in the Hong Kong Listing Rules) of the listing company or its subsidiaries, or a person who will become a connected person of the listing company immediately upon completion of the Global Offering.

5. You may apply for Shares under the Hong Kong public offering or indicate an interest for Shares under the international offering, but may not do both.

6. If you decide to apply for Shares through this platform, please DO NOT apply through other channels. If you do so, it will constitute multiple applications, and ALL multiple or suspected multiple applications will be rejected.

7. By using this service, you are agreeing to all terms and conditions set out above.

Risk Disclosures

1. Risks of using electronic trading services

If you undertake transactions via electronic trading facilities, you will be exposed to risks associated with the system including the failure of hardware and software, and your order may not be executed according to your instructions.

2. Risks of IPO Subscription

Before making any investment decision, you should read the prospectus for detailed information about the company and the proposed offering before deciding whether or not to invest in the securities concerned.

Submission of an application through this channel does not entitle you to any advantage in the share allocation process, and in particular, it does not automatically make the application a valid or a successful application. The Company, the listing company or the Underwriters’ Representatives, or their respective agents have full discretion to reject or accept any application, in full or in part, without assigning any reason.

3. Risks of securities trading

The prices of securities may fluctuate dramatically and become valueless. Losses may be incurred as a result of buying and selling securities.

This brief statement cannot disclose all risks. You should therefore study carefully the risks disclosure statements on our website and in your client agreement.


The Company takes no responsibility for the contents of this website, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of this website.

Top of Page
Contact Us
Customer Service Department (General Enquiries)
Tel : (852) 2277 6555
Fax : (852) 2277 6008
Email :

Enquiry & Support
The Complaint Procedures
About Us
Phillip Securities Group
Join Us
Phillip Network
Phillip Post
Phillip Channel
Latest Promotion
Investor Notes
Free Subscribe
Contact Us