Fibocom 00638Expected Lots

Fibocom (00638) Expected Lots
Offering Mechanism: Mechanism B | Min Subscription: HK$4,300  |  Public Offering Lots: Pool A 33,770lots / Pool B 33,770lots  |  Offer Price: HK$21.50  |  Lot Size: 200shares  |  Public Offering Size: HK$290.4M
1x3443.0x
Recent first-day return
+4.6%
→
Participants
13,465
→
Avg lots
43.0
→
Oversubscription
9x
9x = 13,465 × 43.0 ÷ 67,540 A+H secondary · participants ×0.44 H-share discount 27.6% margin-weighted 100% → 455.5x
Margin dynamics · 2025-10-17 17:58 Margin multiple392.66x Margin funds1140.4100M TradeGo forecast multiple455.49x
Rank Broker Margin funds
1 富途证券富途 595.6100M
2 辉立证券辉立 198.0100M
3 老虎国际老虎 114.8100M
4 耀才证券耀才 85.0100M
5 华泰国际华泰 53.7100M
6 招银国际招银 41.8100M
8 华盛证券华盛 15.1100M
9 盈立证券盈立 7.1100M
10 长桥证券长桥 6.8100M
11 TradeGo MarketsTradeGo 6.8100M
12 信诚证券信诚 6.0100M
13 卓锐证券 5.5100M
14 第一上海 1.9100M
15 盈宝证券盈宝 1.5100M
16 艾德证券艾德 692910K
17 FunderstoneFunderstone 101210K
Margin multiple
TimeMultiple
2025-10-14T06:00:00+08:000
2025-10-14T10:03:54+08:000.006197706848466067
2025-10-14T10:04:42+08:000.19619185345866474
2025-10-14T10:06:17+08:000.2926006266570258
2025-10-14T11:03:29+08:000.30423854285025653
2025-10-14T11:03:43+08:000.4461660296801295
2025-10-14T11:03:48+08:000.4906173604655166
2025-10-14T11:05:35+08:001.4891367971628275
2025-10-14T12:00:57+08:001.520917260613573
2025-10-14T12:06:04+08:001.6984815618221258
2025-10-14T12:06:18+08:001.8184071893399443
2025-10-14T12:06:36+08:002.748063216609854
2025-10-14T13:45:38+08:002.752195021175498
2025-10-14T13:45:52+08:002.7882794477154564
2025-10-14T13:45:57+08:002.8354853148779395
2025-10-14T13:46:13+08:003.231449919085494
2025-10-14T13:48:50+08:003.3003133285128947
2025-10-14T14:04:52+08:003.3068553524084976
2025-10-14T14:05:17+08:003.501360052336191
2025-10-14T14:05:21+08:003.555762145783838
2025-10-14T14:05:36+08:003.6142960437971285
2025-10-14T14:06:23+08:004.686912509038322
2025-10-14T15:07:06+08:004.690458974623834
2025-10-14T15:07:29+08:004.729642254588025
2025-10-14T15:07:34+08:004.746548221602452
2025-10-14T15:07:46+08:005.428295974933719
2025-10-14T16:16:39+08:005.432427779499363
2025-10-14T16:17:21+08:005.663016905967014
2025-10-14T16:17:35+08:005.751127638329374
2025-10-14T16:17:56+08:006.1367627311228174
2025-10-14T17:08:24+08:006.141135557621458
2025-10-14T17:09:03+08:006.765210205557277
2025-10-14T17:09:12+08:006.861309093413215
2025-10-14T17:09:23+08:008.548462624384534
2025-10-14T17:35:47+08:008.703405295596186
2025-10-14T18:02:20+08:008.707812553799538
2025-10-14T18:03:17+08:008.866542712529697
2025-10-14T18:03:23+08:008.89894294666529
2025-10-14T18:06:44+08:009.728747030265469
2025-10-14T18:13:56+08:0010.002995558310092
2025-10-14T20:42:20+08:0010.209585786592294
2025-10-14T20:42:45+08:0010.297042316565094
2025-10-14T20:42:56+08:0010.437041627930999
2025-10-14T20:43:09+08:0010.449678063560928
2025-10-14T20:43:20+08:0010.70102950797094
2025-10-14T20:43:51+08:0011.24918224701305
2025-10-14T20:43:56+08:0011.321454395207107
2025-10-14T20:44:09+08:0011.448851702647799
2025-10-14T22:08:56+08:0011.495437799125435
2025-10-14T22:09:01+08:0011.547911717109114
2025-10-14T22:09:12+08:0011.964535344144888
2025-10-14T22:09:47+08:0012.125847880728575
2025-10-14T22:09:57+08:0012.459835416451469
2025-10-15T08:53:39+08:0012.664910649726268
2025-10-15T08:53:56+08:0012.664669627793272
2025-10-15T08:54:09+08:0012.664669627793272
2025-10-15T08:54:15+08:0012.664910649726268
2025-10-15T08:54:31+08:0012.917432772096547
2025-10-15T08:54:42+08:0017.82050752332748
2025-10-15T09:07:40+08:0017.913817443101607
2025-10-15T09:08:06+08:0017.996143649072067
2025-10-15T09:08:10+08:0017.995661605206074
2025-10-15T09:08:13+08:0018.098956719347175
2025-10-15T09:08:21+08:0018.832352029748993
2025-10-15T09:09:59+08:0019.16871535309713
2025-10-15T09:12:37+08:0020.201666494508142
2025-10-15T10:14:55+08:0020.203766828495677
2025-10-15T10:15:21+08:0020.27803601556313
2025-10-15T10:15:35+08:0020.27934442034225
2025-10-15T10:15:49+08:0020.99208070791585
2025-10-15T11:02:48+08:0021.429914265055263
2025-10-15T11:03:13+08:0021.55197465826533
2025-10-15T11:03:18+08:0021.681644458217125
2025-10-15T11:09:59+08:0022.497675859931825
2025-10-15T12:13:37+08:0022.515236029335814
2025-10-15T12:13:54+08:0022.61550115346211
2025-10-15T12:13:59+08:0022.689150569844713
2025-10-15T12:14:10+08:0023.35023930034776
2025-10-15T13:43:08+08:0023.24305340357401
2025-10-15T13:43:18+08:0023.252384395551424
2025-10-15T13:43:37+08:0023.593258272217057
2025-10-15T13:43:51+08:0023.604104259201872
2025-10-15T14:09:58+08:0023.673656302723547
2025-10-15T14:10:07+08:0023.818028440588094
2025-10-15T14:10:22+08:0023.884757084323244
2025-10-15T14:10:37+08:0024.476982405398893
2025-10-15T14:11:12+08:0025.097717177977483
2025-10-15T15:20:08+08:0025.113934510897636
2025-10-15T15:20:36+08:0025.281651344558068
2025-10-15T15:20:44+08:0025.359122680163896
2025-10-15T15:21:31+08:0026.91199256275178
2025-10-15T16:19:30+08:0026.912199152980065
2025-10-15T16:19:52+08:0028.36810935509417
2025-10-15T16:20:02+08:0029.036084426539958
2025-10-15T16:20:11+08:0029.112763832937368
2025-10-15T17:00:42+08:0029.117584271597288
2025-10-15T17:07:24+08:0032.989050717901044
2025-10-15T17:07:29+08:0033.12564129050029
2025-10-15T17:07:39+08:0035.92149571325276
2025-10-15T18:01:11+08:0035.92190889370933
2025-10-15T18:01:19+08:0044.37489240092277
2025-10-15T18:03:53+08:0045.063526495196776
2025-10-15T18:04:18+08:0046.286093034466134
2025-10-15T18:04:26+08:0046.403780601177566
2025-10-15T18:06:35+08:0065.2930138071136
2025-10-15T18:11:46+08:0066.60837379058637
2025-10-15T18:13:43+08:0068.3299590262714
2025-10-15T20:12:20+08:0068.31553214199636
2025-10-15T20:12:47+08:0069.15835140997831
2025-10-15T20:12:58+08:0077.26357469958337
2025-10-15T20:13:24+08:0078.00079192920842
2025-10-15T20:13:35+08:0084.58069069999655
2025-10-15T22:08:48+08:0085.77454119753469
2025-10-15T22:08:58+08:0092.29590607030954
2025-10-15T22:09:25+08:0094.03594669972111
2025-10-15T22:09:38+08:00101.62469441862066
2025-10-16T07:36:38+08:00102.42354439968322
2025-10-16T07:36:57+08:00102.42354439968322
2025-10-16T07:37:06+08:00102.42354439968322
2025-10-16T07:37:21+08:00102.42340667286437
2025-10-16T08:38:49+08:00104.33839479392624
2025-10-16T08:39:00+08:00128.71259856075474
2025-10-16T09:11:57+08:00128.74265743896981
2025-10-16T09:12:12+08:00129.92621285679854
2025-10-16T09:12:17+08:00129.9263161519127
2025-10-16T09:12:28+08:00135.46982061081843
2025-10-16T09:13:10+08:00140.55879213579865
2025-10-16T09:28:58+08:00142.28037737148367
2025-10-16T10:20:17+08:00142.8886822986606
2025-10-16T10:20:42+08:00143.17501635505974
2025-10-16T10:20:53+08:00144.88575560375995
2025-10-16T10:21:13+08:00153.09083083703473
2025-10-16T11:06:21+08:00153.1196157421754
2025-10-16T11:06:33+08:00153.84553937265434
2025-10-16T11:06:40+08:00160.01570085734946
2025-10-16T11:06:55+08:00160.4179664635196
2025-10-16T11:08:14+08:00169.0258926419447
2025-10-16T12:03:37+08:00169.8550080914506
2025-10-16T12:03:44+08:00169.85504252315533
2025-10-16T12:03:48+08:00170.52918086974486
2025-10-16T12:05:38+08:00174.73329201528767
2025-10-16T13:49:13+08:00174.87497848018455
2025-10-16T13:49:21+08:00175.52711496746204
2025-10-16T13:49:26+08:00175.52714939916675
2025-10-16T13:49:35+08:00180.3131563543711
2025-10-16T14:10:08+08:00180.37330854250595
2025-10-16T14:10:13+08:00181.70251007127362
2025-10-16T14:10:20+08:00187.8761147264401
2025-10-16T14:10:55+08:00191.00599111662018
2025-10-16T15:08:01+08:00191.7542264917536
2025-10-16T15:08:09+08:00191.97427951657886
2025-10-16T15:08:15+08:00196.16461798023622
2025-10-16T16:06:31+08:00197.36711083565748
2025-10-16T16:06:39+08:00202.43545776951416
2025-10-16T16:53:35+08:00203.46840891092518
2025-10-16T17:31:08+08:00205.00309885342423
2025-10-16T17:31:12+08:00209.234755362738
2025-10-16T17:31:21+08:00268.80160451743967
2025-10-16T18:00:35+08:00270.7335674689254
2025-10-16T18:03:21+08:00271.7338773542678
2025-10-16T18:12:00+08:00276.06194263678
2025-10-16T18:12:35+08:00303.6073064077402
2025-10-16T20:32:07+08:00304.5649898426471
2025-10-16T20:32:13+08:00308.39723857728194
2025-10-16T20:32:19+08:00308.68897841132116
2025-10-16T20:32:25+08:00313.71256412905
2025-10-16T22:41:54+08:00314.28919188789035
2025-10-16T22:41:59+08:00318.854835932927
2025-10-16T22:42:09+08:00319.90937575319356
2025-10-16T22:42:14+08:00324.9364046413938
2025-10-17T08:41:37+08:00325.81585924319114
2025-10-17T08:41:40+08:00329.2844747443446
2025-10-17T08:41:59+08:00329.2844747443446
2025-10-17T08:42:08+08:00358.8544227524705
2025-10-17T09:01:18+08:00363.5853734118376
2025-10-17T09:09:04+08:00365.77777777777777
2025-10-17T09:09:08+08:00376.9198774231312
2025-10-17T09:40:26+08:00378.29714561167924
2025-10-17T10:14:59+08:00380.1799745205385
2025-10-17T14:47:14+08:00384.93154977102915
2025-10-17T17:58:03+08:00392.66
TradeGo forecast multiple
TimeMultiple
Broker margin funds trend
TimeBrokerMargin funds
Pool A α=
Allocation Strategy Coefficient α
Allocation Strategy Coefficient
Reflects the issuer's allocation preference across different subscription sizes.
α → 0  Per-capita allocation — every allottee receives the same number of shares, regardless of lots subscribed.
α → 1  Proportional allocation — the more lots subscribed, the more shares allotted.
Historical α range (P10–P90): Pool A 0.3–0.9, Pool B 0.4–1.0
0.54
Pool B α=
Allocation Strategy Coefficient α
Allocation Strategy Coefficient
Reflects the issuer's allocation preference across different subscription sizes.
α → 0  Per-capita allocation — every allottee receives the same number of shares, regardless of lots subscribed.
α → 1  Proportional allocation — the more lots subscribed, the more shares allotted.
Historical α range (P10–P90): Pool A 0.3–0.9, Pool B 0.4–1.0
0.64
This model does not support allocation strategy adjustment

Actual vs Predicted Comparison

Using the actual oversubscription ratio 550.99x and current allocation strategy (Pool A α=0.541, Pool B α=0.641) as the baseline, comparing actual vs predicted expected allotment lots per tier

Lots Subscription Amount (HKD) Actual Expected Lots Predicted Expected Lots Error

LogoFibocom Allotment Prediction Matrix

Rows are subscription tiers, columns are different oversubscription ratios, values are expected allotment lots; green indicates guaranteed allotment (≥1 lot)

Pool A

Oversubscription
455.5x
Allocation Strategy
α=
Allocation Strategy Coefficient α
Allocation Strategy Coefficient
Reflects the issuer's allocation preference across different subscription sizes.
α → 0  Per-capita allocation — every allottee receives the same number of shares, regardless of lots subscribed.
α → 1  Proportional allocation — the more lots subscribed, the more shares allotted.
Historical α range (P10–P90): Pool A 0.3–0.9, Pool B 0.4–1.0
0.54

Pool B

Oversubscription
455.5x
Allocation Strategy
α=
Allocation Strategy Coefficient α
Allocation Strategy Coefficient
Reflects the issuer's allocation preference across different subscription sizes.
α → 0  Per-capita allocation — every allottee receives the same number of shares, regardless of lots subscribed.
α → 1  Proportional allocation — the more lots subscribed, the more shares allotted.
Historical α range (P10–P90): Pool A 0.3–0.9, Pool B 0.4–1.0
0.64
Offering Mechanism

Mechanism B

Flexible offering mechanism under HKEX Practice Note 18. Minimum initial allocation to the public offer tranche is 10% of offering shares, with no clawback mechanism. Maximum initial allocation is 60% (as at least 40% of total offering shares must be allocated to the placing tranche, excluding cornerstones).

Allocation Strategy Coefficient α

α is the issuer's allocation preference coefficient, describing the issuer's allocation tendency across subscription sizes. α ranges [0, 1].

  • α → 0: Per-capita allocation — regardless of lots subscribed, every allottee receives the same number of shares. More favorable to retail (small) applications.
  • α → 1: Proportional allocation — allotted shares are proportional to lots subscribed. More favorable to large applications.
  • Historical actual α range (P10–P90): Pool A 0.3–0.9, Pool B 0.4–1.0. α varies widely across IPOs, reflecting each issuer's allocation strategy.
Allotment Rate Definition

The "allotment rate" on this page follows the exact HKEX allotment results announcement definition: Allotment rate = total shares allotted to the tier ÷ total valid shares applied in the tier × 100%. This is the official HKEX standard and is fundamentally different from other definitions used elsewhere (e.g. "ratio of applicants who got allotted").

Expected Allotment Lots

Expected allotment lots = total shares allotted to the tier ÷ lot size ÷ number of applicants in the tier

Example: a tier with 50,000 total allotted shares, 100 shares per lot, and 500 applicants → expected allotment lots = 50,000 ÷ 100 ÷ 500 = 1.0 lots.

// About this page //

This page shows expected-lot forecasts for Fibocom (00638): expected hit rate based on similar-IPO matching and Pool A/B capital-efficiency comparison.
The default oversubscription multiple follows the chain recent first-day return → participant count → average lots per participant → multiple, i.e. multiple = participants × average lots ÷ public-offer lots; participant count and average lots are anchored on the recent IPO median and adjusted by offering size, A+H status, H-share premium/discount, industry, concurrent IPOs, sponsor track record and recent HSI moves.
Early in the subscription window the default multiple relies on the model; as subscription progresses it blends in the margin multiple; near the deadline (roughly 90% through) it follows the margin multiple.
Hit-rate forecasts fit 10,897 allotment-tier records across 356 historical IPOs via regression and KNN similar-IPO matching, estimating expected lots per application tier and applying the allocation-strategy coefficient α (equal-per-person to proportional allocation).
Data sources: HKEXnews public-offer allotment result announcements, prospectuses and FINI announcements; margin data (margin multiple, TradeGo forecast multiple and broker breakdown) comes from 捷利交易宝 (TradeGo), where the margin multiple covers only reporting brokers and the TradeGo forecast multiple is a full-market extrapolation.
The margin multiple updates intraday in real time; the hit-rate model is refreshed as new IPO allotment data is ingested.

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