Hong Kong's 11th Silver Bond Draw Sets Records With 476,700 Applications

The government has announced the subscription and allocation results for the 11th batch of Silver Bonds, receiving about 476,700 valid applications with total principal subscribed of RMB 119.306 billion, both figures setting new records. The final issuance was RMB 55 billion, above the RMB 50 billion target.

All valid applications received bonds, with a maximum of 13 lots, each worth RMB 10,000. The 88,422 applications subscribing for 12 lots or fewer will receive the full amount applied for. The remaining approximately 388,280 applications subscribing for more than 12 lots will first receive 12 lots, and after a ballot, 97,396 of them will receive one additional lot.

Financial Secretary Paul Chan said the number of applicants and subscription amount for this batch of Silver Bonds reached new highs. The funds raised will be used for public works projects to advance infrastructure and urban development and improve residents' quality of life. The government will continue to review the arrangements for issuing Silver Bonds in light of subscription response and market conditions.