FUTU HK Help Center-How to trade pre-IPO trading on FUTU
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Help Center Trading Ability Trading in HK Market Grey Market How to trade pre-IPO trading on FUTU

How to trade pre-IPO trading on FUTU

1. Introduction to the pre-IPO trading

The pre-IPO market is an over-the-counter market. In Hong Kong, it is generally used for pre-IPOtrading of new stocks, which takes place after the close of trading on the trading day before the IPO. Hong Kong stocks are usually traded through the HKEx system during trading hours, but the pre-IPO market trading is not through the exchange system but through the internal system provided by some brokerage firms.

 

2. Pre-IPO market trading hours

The pre-IPO market trading hours are 16:15-18:30 on the trading day before the official listing of the IPO.

If the pre-IPO market is a half day, the trading hours are 14:15-16:30.

Trading arrangements during a typhoon and black rainstorm:

When the Hong Kong Observatory hoists a Typhoon Signal No. 8 or higher, a Black Rainstorm Warning, or the Hong Kong Government announces an "Extreme Condition," Futu will maintain the operation of its pre-IPO trading services.

 

3. Guidelines for placing orders in the pre-IPO market

3.1 Mobile Apps

The first step is to find the pre-IPOstocks you want to trade:

Find the pre-IPOstocks that will be listed the next day and want to trade in the "Pending Listing";

The second step is to place an order:

Enter the quantity and price to confirm the transaction.

Note: Please update the client to the latest version to check the pre-IPOquotesource and transaction brokers.

3.2 PC client

The first step is to find the pre-IPOstocks you want to trade:

1) Enter the stock name or code directly in the search box;

2) Or find the stocks listed on the next trading day through this path: PC Client - Explore - IPOs.

The second step is to place an order:

Enter the quantity and price to confirm the transaction.

Note: Please update the client to the latest version to check the pre-IPO quote source and transaction brokers.

 

4. What types of orders are supported for pre-IPO trading?

The pre-IPO market trading supports limit orders, market orders, stop order, stop limit order, limit if touched order, market if touched order, trailing stop order and trailing stop limit order.

Note: Please update the client to the latest version to support order validation/expiration and order modification operations.

 

5. What are the restrictions on the price of pre-IPO market orders?

In order to ensure the efficiency of pre-IPO market order transactions, only orders that meet the price restrictions will be sent to the matching system to be filled, and orders that exceed the price restrictions will be rejected. The specific restrictions are:

Market price * (1 - 25%) <= Bid price <= Market price * (1 + 25%)

Market price * (1 - 25%) <= Ask price <= Market price * (1 + 25%)

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