Hong Kong’s tenth tranche of silver bonds drew around 373,000 subscriptions, up 24 percent from a year earlier, with total subscription value hitting HK$98.52 billion, a 40 percent increase, the government said.
A government spokesperson said preliminary subscriptions were nearly double the target, reflecting strong demand from older investors, and expects the final issuance to reach the HK$55 billion ceiling.
Hongkong and Shanghai Banking Corporation, BOC Hong Kong (2388) and Standard Chartered Hong Kong all saw record applications in both number and value.
An HSBC spokesperson said the downward trend in interest rates had fueled strong demand for the latest issue, which allows elderly investors to secure a stable, higher-yielding income stream.
BOC Hong Kong said subscriptions rose more than 40 percent from last year, with the average investor applying for 26 lots versus 22 previously.
Standard Chartered said the average application was 28 lots, with digital investors applying about 10 percent more than a year ago.
Industrial and Commercial Bank of China (Asia) reported subscriptions rose over 20 percent via the bank, averaging 28 lots per person, with some investors applying for more than 180. About 30 percent were first-time buyers, the lender added.
China CITIC Bank International said subscriptions climbed more than 10 percent from the previous tranche, with an average size of HK$280,000, including dozens of HK$1 million orders.
Citibank Hong Kong said it recorded growth across all major metrics, including the number of applications, total application amount, the largest application size, and the average ticker size.
