What is an IPO?
IPO (Initial Public Offering) means a company issues shares and raises fund in the capital market through financial intermediary for business development and future expansion. Investors who have successfully been allotted with the new shares will become the shareholders of this listed company.

How to Apply for IPO?
In general case, if you want to subscribe for IPO shares, you can choose one of the following channels:
White-form: If you choose to subscribe for IPO shares under your own name, please use the white form. Those who have been successfully allotted with the new shares will receive the share certificates. You must deposit the share certificates into a securities account with a bank/broker before trading.
Yellow-form: If you use the yellow-form, the allotted shares will be deposited directly in the stock account of a bank /broker in CCASS. The bank /broker will simultaneously credit the shares into your securities account. The allotted shares can be traded on the first day of listing.

e-IPO Service Offered by Nanyang Commercial Bank Limited
You can subscribe for IPO shares using a white application form through the website of Nanyang Commercial Bank Limited, or using a yellow form through Internet Banking:
For application using white form:
You may make the hassle-free payment via cheque/cashier's order, online PPS payment or Internet Banking^* without the trouble of visiting our branches.
For application using yellow form:
All you need is to maintain the Internet Banking and securities accounts with us and payment will be debited directly from your settlement account.
^*The available payment method is subject to the decision of the issuer/sponsor.

Risk of securities trading
The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities.

Risk of trading Growth Enterprise Market Stocks
Growth Enterprise Market (GEM) stocks involve a high investment risk. In particular, companies may list on GEM with neither a track record of profitability nor any obligation to forecast future profitability. GEM stocks may be very volatile and illiquid. You should make the decision to invest only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors. Current information on GEM stocks may only be found on the internet website operated by The Stock Exchange of Hong Kong Limited. GEM Companies are usually not required to issue paid announcements in gazetted newspapers. You should seek independent professional advice if you are uncertain of or have not understood any aspect of this risk disclosure statement or the nature and risks involved in trading of GEM stocks.