Live subscription, price-fix, allotment and listing schedule for all IPOs on the Hong Kong Stock Exchange. One-click into our allotment-rate calculator to size your application.
Hourly snapshot of every active HK IPO. Reverse-calculated per-tier allotment rate uses 馭勢-style method: 公开发行 = 孖展 / 超额倍数 → 1手 / 甲尾 / 乙头 / 乙1-4 odds.
Verdict: Margin explosion → must apply at Pool A tail (proportional zone, ≥1 lot expected)
Verdict: Margin explosion → must apply at Pool A tail (proportional zone, ≥1 lot expected)
Reusable: apply in sequence — if the earlier IPO does not allocate, the refund lands in the afternoon and can fund a NEXT IPO closing on a strictly later calendar day. Same-day close = conflict (HK IPOs close ~12:00 HKT, refund arrives ~16:00 HKT — too late). Conflicting: subscription windows overlap or share a close date, so each needs its own capital pool.
These IPOs have overlapping subscription windows. Refunds from each arrive too late to fund the next, so each application locks its own pool of capital until allotment.
Refund = capital return on allotment date − 1 afternoon (unallocated cash lands back). Grey market = listing date − 1 evening.
This calendar answers "when". The calculator answers "how much". Pair them: pick an IPO here, jump to the calculator, enter your lots + expected oversubscription, and see your probability and margin ROI before the subscription window closes.
Twice daily at 11:00 and 22:00 Hong Kong time. A cron job on our VPS scrapes AAStocks, diffs the JSON, and triggers an incremental revalidate. In practice you will see same-day changes within an hour of AAStocks publishing them.
O = Subscription opens · P = Subscription period · C = Subscription closes · F = Offer price fixed · A = Allotment announced · L = Listing day on HKEX. Two derived codes: R = Refund (allotment date − 1, afternoon) when unallocated capital actually returns to your account, G = Grey market (listing date − 1, evening) when you can trade on the off-exchange venue before official listing.
Official allotment date (A) is when the exchange publishes results, but most brokers SMS/push the outcome the afternoon BEFORE, which is when unallocated cash is already usable. Rule of thumb: if IPO B's subscription_close date is on or after IPO A's (allotment − 1), you can roll the same capital from A into B. The 'Capital-compatible combos' cards above do this check for you.
Grey market is the off-exchange trading window on the evening before official HKEX listing (typically 16:15 – 18:30 HKT on L − 1). Brokers like Phillip / Futu let you enter trades at expected open prices, useful for locking in gains / cutting losses before the 09:00 listing session.
Click "Estimate allotment" on any IPO card. Our free calculator uses the dual-pool model (Pool A retail, Pool B large) calibrated against real HKEX allotment data. Enter your lots + expected oversubscription, get probability + margin-financed return.
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