Moomoo Singapore Help Center-IPO subscription statement
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IPO subscription statement

1. Ways to subscribe for HK IPOs

1.1 We support IPO subscription in cash and by Moomoo Singapore's margin or bank financing.

1.2 Cash subscription refers to subscription using solely withdrawable cash in the account.

1.3 Moomoo  Singapore-financed subscription refers to subscription using Moomoo Singapore's margin services, including stock positions and unsettled funds.

1.4 Bank-financed subscription refers to subscription using financing services provided by banks.

1.5 Both cash subscription and Moomoo Singapore-financed subscription are standard subscription.

 

2. IPO Subscription Deadline & Funding Deduction Date

2.1 We process standard subscription in batches. Typically, the deadline is 09:00 AM on the Moomoo Singapore-financed subscription cut-off day (same as the HKEX cut-off date), though it may be extended to 10:30 AM in certain cases. We will deduct funds from 09:00 AM for applications submitted before 09:00 AM, or 10:30 AM for applications submitted between 09:00 AM to 10:30 AM.

2.2 The deadline for bank-financed subscription is 04:00 PM on the cut-off day for requesting bank financing (one day earlier than that for standard subscription). The final funding deduction date for each subscription may vary because we maintain multiple banks as sources of financing. For exact information on funding deduction time, please refer to the notifications after you submit each subscription.

2.3 You may change or cancel your subscription before we start to deduct your funds.

 

3. Subscription Fees & Interest Charges

3.1 Standard subscription is subject to a non-refundable 50 HKD subscription fee; bank-financed subscription, 100 HKD. This fee is charged regardless of the allotment result. Also, if an IPO gets postponed or canceled, banks may not return the fees and charges related to bank financing.

Note: According to the government regulations, Singapore tax residents are subject to goods and services tax (GST). GST for standard subscription is 50 * 9% in HKD; for bank-financed subscription, 100 * 9% in HKD.

3.2 Interest on bank financing is calculated as bank financing * interest-bearing days * daily interest rate.

3.2.1 Please refer to the IPO subscription page for the latest information on the interest rate. The interest rate for bank-financed subscription may fluctuate dynamically according to the market conditions, and the interest will be determined at an interest rate at the time when you submit or successfully change your IPO subscription. You may prevent potential changes in the interest rate by submitting your subscription as soon as possible.

3.2.2  The interest calculation period for Moomoo Singapore is from the end of the day until the last calendar day prior to the announcement of successful allocation. After the announcement, Moomoo Singapore will return the borrowed money to the banks. If the market value of your allotted shares is higher than the available funds in your account, you may use the Moomoo Singapore financing services to cover the excess part. However, if your account risk level becomes Margin Call as a result, we retain the right to carry out forced liquidation. Please be aware of the risk involved.

3.3 Interest on Moomoo Singapore-financing services will be settled on a monthly basis at the same interest rate as that for a margin account. You may borrow and return money at will. Please refer to your account statements for final charges.

3.4 If an IPO undergoes postponement or cancellation, we will not return the subscription fees and interest charges incurred.

 

4. Allotment Results and Information on Refund

4.1 Allotment results will appear on your daily statement on the announcement day. If you have been allotted shares and the IPO proves to be successful, you will see your allotted shares in your positions on the announcement day.

4.2 If you apply for a standard subscription and get partially allotted, the money corresponding to the unallotted portion will be returned to your account the same day of the announcement of allotment results. In case of special circumstances, please refer to the exact refund date as announced by the HKEX.

4.3 If you are using bank financing services for your subscription and the dollar amount of your allotted shares is lower than the available funds in your account, we will return the excess part to your account the same day of the announcement of allotment results.

 

5. Risk Reminder of IPO Subscription via Financing

5.1 If your account is in Margin Call status while in the process of an IPO subscription, Moomoo Singapore retains the right to carry out forced liquidation. Please be aware of the risk involved.

5.2 Subscription via financing typically features a high leverage ratio, which may increase your account risk level on the listing date. Hence, it is important for you to have sufficient funds in your account. Otherwise, your account will receive a margin call on the listing date. In this case, Moomoo Singapore has the right to sell a portion of your shares.

5.3 If your account is in Margin Call status, you will have to bear the losses arising from Moomoo Singapore selling a portion of your shares to protect the security of your account.

 

6. Statement

The Client confirms that:

This subscription is the only subscription made for the benefit of the Client in the securities issuance, and the Client cannot make other subscriptions during the same securities issuance;

Authorization is granted to Moomoo Singapore to represent, warrant and covenant to the exchange that the Client will not and does not intend to make other subscriptions, and Moomoo Singapore will not and does not intend to make other subscriptions for the benefit of the Client; 

Moomoo Singapore executes this subscription in reliance on the above warranty, covenant, and authorization;

Moomoo Singapore has no obligation to provide the Client the listing document (the "Prospectus") that sets out the terms and conditions of the newly issued securities. The Client has otherwise obtained the Prospectus for the subscription and has read and understood the terms and conditions therein, and the Client’s subscription will not violate these terms and conditions. The Client will not subscribe for the newly issued securities unless he/she is eligible under the applicable securities regulations; and

The Client is not a related person (as defined under the regulatory rules) of the issuer of the newly issued securities.