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HK to Initiate Online IPO Center
An online service center for initial public offering (IPO) is expected to go into operation in Hong Kong in mid-September, offering investors quicker subscriptions for IPOs over the Internet.
Launched by the Hong Kong and Shanghai Banking Corporation Limited (HSBC), the center will allow investors to place instructions to debit their accounts later on any specified date prior to the IPO closing date in addition to the convenience of being able to submit IPO applications online.
"The online IPO service is an important feature of Hong Kong's continually developing range of financial infrastructure," Richard Kimber, head of HSBC's personal e-business Asia-Pacific said.
The center will also offer a range of information including prospectuses, a list of important dates for each public offering, a schedule of upcoming IPOs and stock market information and share price quote features.
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