Latest iBond offering draws strongest response yet - RTHK
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Latest iBond offering draws strongest response yet

2021-06-11 HKT 21:59
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  • The low interest rate environment may have accounted for the record response to iBond. Photo: RTHK
    The low interest rate environment may have accounted for the record response to iBond. Photo: RTHK
The eighth and latest batch of iBond offered by the government has drawn a record response.

A government spokesman said according to preliminary figures, total subscription amount reached HK$54.5 billion.

The target issuance size is HK$15 billion.

Preliminary figures also showed the number of applicants jumped 55 percent from a year ago to 717,000.

Both the subscription amount and number of applicants, if confirmed, will be all-time highs.

The subscription period ended on Friday.

And because of the strong response, the spokesperson expects the government to expand the tranche to HK$20 billion.

Bond holders will be paid interest at a rate linked to inflation in Hong Kong, subject to a minimum rate of 2 percent.

The iBond will be issued on June 23 and listed on the stock exchange the following day.