Nearly 710,000 have applied for the eighth inflation-linked retail bond, or iBond and 85 percent were allotted three units, the government announced on Monday.
The government received 709,198 valid applications for a total of HK$53.95 billion.
The final issuance amount of the iBond is HK$20 billion. A total of 55,381 who subscribed for two or fewer units will be allocated the full amounts applied for.
The remaining 653,817 valid applications - those applying for more than two units - will be allocated two units each and then entered into a ballot. Of these applications, 605,727 will be allocated one additional unit.
The iBond will be issued on June 23 and listed on the Stock Exchange of Hong Kong on June 24.
Financial Secretary Paul Chan Mo-po said, "the issuance of iBond has not only provided the public with a safe investment choice of steady return under the current low interest rate and uncertain investment environment, but also further enhanced the investing public's interest in and awareness of bond investments, thereby promoting the development of the retail bond market in Hong Kong."