Themis Qi
Hong Kong’s second batch of retail green bonds raised twice as much as the government’s target of HK$15 billion, as subscriptions ended yesterday.
As many as 323,000 investors subscribed for HK$30.2 billion worth of the bonds, a government spokesman said. “As the retail green bond was well received by the public, we expect to raise the final issuance amount to HK$20 billion,” he said.
The green bonds carry an interest rate of at least 4.75 percent, and most banks receiving a better response than last year.
Industrial and Commercial Bank of China (Asia) said the number of subscribed lots rose 20 percent on average from the first batch of last year and the highest by one investor amounted to 160 lots, or an investment of HK$1.6 million.
Investors who booked four lots or below are expected to be fully allocated, based on last year’s results, said ICBC (Asia).
The Hongkong and Shanghai Banking Corporation, one of the joint arrangers,said the average amount committed by its clients increased about 25 percent compared with last year and 20 percent of them were first-time subscribers.
Another arranger BOC Hong Kong (2388) said its clients subscribed 30 percent more on average in value than last year.
China CITIC Bank International disclosed that the biggest deal it received was HK$1 million, or 100 lots, with an average value of HK$100,000, though the number of subscribers only edged up.
As investors were attracted by the green bond’s interest rate, three new stocks posted a mixed performances on their debut.
Artificial intelligence startup Beijing Fourth Paradigm Technology (6682) ended its first day at HK$58.5, 5.2 percent up from its offer price of HK$55.6.
However, Neusoft Xikang (9686) slumped 42.9 percent to HK$2.72, marking a paper loss of HK$1,020 per lot of 500 shares.
Mobile game operator ZX (9890) closed at HK$14, same as its offer price, after ups and downs during the trading hour.
Separately, Luyuan Group, the Chinese electric bicycle supplier, opened its retail book yesterday, aiming to collect as much as HK$850 million, with a minimum investment of HK$4,040.
Together were IT service provider Maiyue Technology which aims to raise HK$175 million at most with a minimum investment of HK$2,828, and a grain and food brand Shiyue Daotian that asks for a minimum investment of HK$4,787.8 to raise up to HK$844 million.
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