At the morning of November 4, Ant Group issued an announcement on the Hong Kong Stock Exchange to suspend the listing of H shares and return the application for public offering of Hong Kong. As early as the evening of the 3rd, some securities firms including Huatai International and Evergrande Securities were the first to announce that they planned to share costs with investors by refunding handling fees and reducing financing interest.
As of 11:24 am on November 4, according to statistics from Jieli Trading Bao, Ant Group's total margin loan amount was approximately HK$414.287 billion, and based on the average interest rate of 3.1%, it is estimated that a total interest rate of HK$176 million is refunded. According to incomplete statistics from a reporter from Securities China, many brokers including Futu Securities , Tianfeng International, Fangde Securities, Yingli Securities, etc. have announced the refund of all subscription fees and bank financing interest, and many brokers including Huatai International, GF Hong Kong, Tiger Securities , etc. have also announced that they will reduce the collection of financing interest.
Ant new stock issuance cost Who will bear the cost of
As we all know, Hong Kong stock investors need to prepare a "subscription payment + subscription fee" for subscription, and if margin financing is carried out, interest will also be borne. According to past experience, after the listing is suspended, the subscription payment will be refunded, and the handling fees and financing interest will not be paid.
Take Budweiser Asia Pacific as an example. On July 13, 2019, on the eve of Budweiser Asia Pacific's listing, its parent company InBev also suddenly announced that it would not promote the IPO plan anymore. In the end, in addition to margin interest, Budweiser Asia Pacific stated that the application for the Hong Kong offering of shares (including 1.0% brokerage commission, 0.0027% SFC trading levy and 0.005% Stock Exchange trading fee) will be refunded without interest.
The situation of Ant's suspension of listing this time is similar. Its Hong Kong stock announcement clearly states that "the application for stocks for this Hong Kong public offering (along with 1.0% brokerage commission, 0.0027% Hong Kong Securities Regulatory Commission trading levy and 0.005% Hong Kong Stock Exchange trading fee) will be refunded in two batches regardless of interest."
Among them, the first batch will refund all or part of the subscription funds that have not won the lottery on November 4 (Wednesday). The second batch will refund the remaining funds on November 6 (Friday). The refund methods include sending a white form electronic refund instruction, sending a refund check, and refund.
subscription payment and handling fees have been settled, so where should the financing interest go?
Ant Group was previously a popular new stock, and it was rumored that 1.55 million shareholders had frozen a total of HK$1.3 trillion, and various securities companies have also prepared a lot of financing quotas for it. According to statistics from Jieli Trading Bao, the total margin of Ant Group is approximately HK$414.287 billion, and based on the average interest rate of 3.1%, it is estimated that a total interest rate of HK$176 million is refunded.
Many brokerages have reduced the issuance fee for new purchases
As of 12 a.m. on November 4, a reporter from Securities China found that many brokerages such as Futu Securities, Tianfeng International, Fangde Securities, and Yingli Securities have announced the refund of all subscription fees and bank financing interest, and many brokerages including Huatai International, GF Hong Kong, Tiger Securities, etc. have also announced that they will reduce the collection of financing interest.
Futu Securities: All fees are exempt, refund will be completed at 16:00 on the latest 6
In response to the emergencies of Ant Group's suspension of IPO,Futu Securities decided to waive the subscription fees and all bank financing interest of all participating customers, and the costs related to this will be borne byFutu. Among them,
1, part of the subscription funds that have not been won (excluding handling fees and financing interest): a refund will be completed before 16:00 on November 4;
2, part of the subscription funds that have been won (excluding handling fees and financing interest): a refund will be completed before 16:00 on November 6.
Tianfeng International: All subscription fees are exempted
Because the subscription fees and financing interest of Hong Kong stocks are usually non-refundable, in order to help customers reduce losses, it was decided to exempt all subscription fees and financing interest of Yitianfeng International customers participating in the subscription of Ant Group IPO, the refund time and details, etc., will be announced later.
Huatai International: Financing interest has been reduced to 2.5%, and handling fees are exempted
At 11 pm on November 3, Huatai International announced that it would cancel the original 3.9% interest rate and will uniformly charge the interest on the Ant Financing New Investment at a 2.5% interest rate. Interest will be collected first and then returned, and the refund plan shall be subject to the operations stipulated by the Hong Kong Stock Exchange.
It is reported that the 2.5% interest rate charged by Huatai International is the capital cost, and this move will give more than HK$8 million to shareholders. In addition, it is a membership system, and the membership issuance and financing fee is exempt from all members. Zhu Yali, head of Huatai International Changle Global Connect, said that Ant's listing has been suspended this time, which has affected a large number of investors. Changle Global Connect relies on the interests of investors and is willing to stand with the majority of investors and share the losses.
GF Hong Kong: Financing interest has dropped to 2.28%, without an upper limit
GF Securities (Hong Kong) announced based on the interests of customers that the financing interest of Ant Group will be calculated at 2.28%, with no upper limit of the amount, and the subscription fee of HK$100 is exempted.
Tiger Securities: Give a 1% financing interest subsidy, give a 30-day commission-free card
, fully refund the Ant Group’s new subscription fee of HK$100, give a 1% subsidy for financing interest of all new Ant users, and give an additional 30-day commission-free card. The above policy costs are borne by Tiger Securities and the funds will be unfreezed as soon as possible.
certificate Hong Kong: Financing interest has dropped to 2.5%, and the handling fee of HK$150 is exempted
In view of Ant Group's suspension of IPO, China Merchants Securities (Hong Kong) decided to exempt all customers participating in this subscription from HK$50 subscription fee and HK$100 financing fee, and the financing interest is uniformly charged at 2.5%.
In addition, according to statistics from Jieli Trading Bao, a large number of Hong Kong brokerages have also announced the refund of the handling fees and partially or fully exempted the financing interest:
[Evergrande Securities] notified the refund of all subscription fees for Ants;
[Fonde Securities] decided to refund all subscription fees and bank financing interest;
[Fosun Hengli] now cancels the original new stock financing interest rate of 2.88%, and will be charged at an interest rate of 2.5%, and the cash subscription fee will be cancelled. Relevant fees will be collected first and then returned, and the specific refund time will be based on the refund arrangement of the Hong Kong Stock Exchange;
[Yingli Securities] exempts all handling fees and IPO interest from all customers participating in the subscription;
[Xueying Securities] refunds all subscription fees and financing interest;
[Huasheng Securities] 1. Refund all subscription fees (regardless of cash or financing) and loan interest, and the relevant bank financing costs shall be borne by Huasheng. 2. Give all participating customers a "Ant Group Summoning Gift Voucher" to deduct the handling fee when Ant issuing again;
[Youyu Securities] fully refunds bank interest and handling fees;
[Zunjia Securities] exempts all interest in this IPO financing, with no upper limit;
[Direct to International] 1. Relieves the subscription fee of all participating customers, 2. Relieves the bank financing interest of all participating customers;
[Changqiao Securities] exempts all participating subscribers from the subscription fees and bank financing benefits The relevant costs are borne by Changqiao Securities;
[Alpha International Securities] exempts all subscription fees that Ant Group participates, and cash subscription continues to be free;
[Livermore] interest is exempt, and the handling fee is inevitable;
[ Aide Securities ] is fully refunded, and the handling fee and margin interest are fully refunded;
[Hengsheng China Securities] is exempt from subscription fees and financing interest;
[Jiufu/Fuyuan Securities] is now cancelled with the original financing interest rate of 3.88%, and will be charged at a unified interest rate of 2.5%. Financing interest will be collected first and then returned, and the specific refund time will be based on the refund arrangement of the Hong Kong Stock Exchange;
[Baoxin Securities] exempts all subscription fees that Ant Group participates in; financing interest will be calculated at 2.4%, and the amount will not be upper limit. Customers who subscribe to Ant Group this time can be exempted from the subscription fee for any new shares next time;
[Huabang Securities] decides to refund all subscription fees and all financing interest for all customers participating in this subscription, and the related costs are borne by Huabang Securities;
[First Shanghai] Ant IPO financing interest is reduced to 2.5%; Ant IPO 100 handling fee is exempted; 3. Customers participating in this IPO can be exempted from the HK$100 handling fee for the next Ant IPO.
(Source: Securities China WeChat official account)
