Tuesday, 27 Oct 2020 03:45 PM MYT
The institutional book of the US$17.2 billion Hong Kong listing was due to close on Thursday, but that deadline will be accelerated to Wednesday 5.00pm in each region, three sources said. Hong Kong operates a “clawback” system where heavy oversubscription from small investors can result in them getting a greater share.
The cash will be locked up until allocations are announced on Nov. 4 and brokers expect it could tie up more than HK$1 trillion in retail funds. Investors not given shares will have their cash returned.
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