The government on Wednesday said its latest Silver Bond programme received more than 300,000 valid applications, involving over HK$70 billion.

For applications seeking 22 or fewer units, they will be allocated the full amounts they've applied for.

In view of the better-than-expected market response, the government said the final issuance amount of the Silver Bond will be HK$55 billion – higher than the planned issuance amount of HK$50 billion.

"Both the total application amount and the number of applications of this batch of Silver Bond are at record highs, showing that Silver Bonds continue to be well-received by senior residents,” Financial Secretary Paul Chan said in a statement.

"The maximum allocation per investor is 23 units (with each unit being HK$10,000) this time, which is the highest among all issuances."

Those applying for more than 22 units will enter a ballot. About three-quarters of them will be given one additional unit.

The Monetary Authority earlier said investors will have higher guaranteed returns and a higher chance of getting a share when compared to last year's sale.

The latest batch of Silver Bond will be issued on Friday.