Ant Group has announced this morning that the refund of the application monies for the Hong Kong Public Offering will be made without interest in two batches.
The Shanghai stock exchange yesterday suspended the Ant Group’s initial public offering on its tech-focused STAR Market, prompting Ant to also freeze the Hong Kong leg of its dual listing scheduled for today.
The refund will include brokerage of 1.0 percent, SFC transaction levy of 0.0027 percent and Hong Kong Stock Exchange trading fee of 0.005 percent.
The first batch of refund will be on November 4, for those with White Form e-Refund payment instructions, refund cheques, refund monies in respect of wholly or partially unsuccessful applications. Which will be determined on the basis of the tentative balloting and allocation already conducted by the Ant Group.
The second batch of refund will be on November 6, for those with White Form e-Refund payment instructions, refund cheques, refund monies in respect of all applications, to the extent not refunded under the 1st Batch Refund.
For those buying on margin, as it is a personal financial arrangement unrelated to the Ant Group, the interest generated from the applications will not be refunded.
However, some brokerages have already announced to also refund the interest generated for those buying on margin, including Futu Securities, announcing this morning that all handling fees and interest generated from applying for Ant Group’s initial public offering will be waived and refunded.
Bright Smart Securities & Commodities has also announced to fully refund customers all their handling fees and interests generated from applying for the public offering.
The company has also called on the Securities and Futures Commission to urge Ant Group to compensate those investors buying on margin.-Photo: AP
