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More information about the Ant Group IPO suspension

In response to the unexpected suspension of Ant Group (06688.HK) IPO in Hong Kong, Saxo Markets has decided to take the following measures to minimise the impact on affected clients. 

  • Financing interest: As we offered zero interest rate during the subscription period, you will not incur any interest related costs.
  • Subscription fee: If you had subscribed for Ant IPO shares, you will be granted you HKD 100 in commission credits which you can use to trade other products (IPO share subscription excluded) on out platforms. This credit is valid throughout the remainder of the year and expires on December 31st, 2020.

Saxo Markets will cancel clients’ Ant Group subscription orders in accordance to HKEX’s instructions and arrangement.

On SaxoTraderGO and SaxoTraderPRO you can explore over 40,000 financial products, including stocks, bonds, futures and options. For inspiration and decision support, we also offer our clients free access to analyst reports and as well as VIP webinars accessible – all via our platforms and our website.

If you have any questions, please do not hesitate to contact us. 

Best regards,
Saxo Markets

 

Terms and conditions of the Rebate of Ant Group IPO Subscription

  1. Saxo Capital Markets HK Limited (“Saxo Markets”) offers a commission rebate (hereinafter the “Commission Rebate”) to clients who had subscribed Ant Group IPO (“Clients”).
  2. The maximum amount of Commission Rebate is HKD 100.
  3. The Commission Rebate can be used to place trades on any products with commission, excluding IPO subscription (“Eligible Trades”). The prices of products are available on Saxo Markets’ website: https://www.home.saxo/en-hk/rates-and-conditions/pricing-overview. 
  4. Clients should place Eligible Trades on or before 31st December 2020. If the commissions of Eligible Trades are not settled in Hong Kong Dollar, the relevant commission rebate will be converted to the equivalent Hong Kong Dollar. The exchange rate is determined by Saxo Markets.
  5. Standard commission will be charged at the time of the transactions. Clients should pay the standard commission first in full. Saxo Markets will calculate the total accumulated commission of Eligible Trades. The Commission Rebate will be credited to Clients’ Hong Kong Dollar account on or before 31st January 2021. If the Client does not have Hong Kong Dollar account, the Commission Rebate will be credited to Clients’ main account and the exchange rate is determined by Saxo Markets.
  6. If there is any discrepancy between the Chinese and English versions of these Terms and Conditions, the English version shall apply and prevail.

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Saxo Capital Markets HK Limited (“Saxo”) is a company authorised and regulated by the Securities and Futures Commission of Hong Kong. Saxo holds a Type 1 Regulated Activity (Dealing in Securities); Type 2 Regulated Activity (Dealing in Futures Contract); Type 3 Regulated Activity (Leveraged Foreign Exchange Trading); Type 4 Regulated Activity (Advising on Securities) and Type 9 Regulated Activity (Asset Management) licenses (CE No. AVD061). Registered address: 19th Floor, Shanghai Commercial Bank Tower, 12 Queen’s Road Central, Hong Kong.

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