Mabwell-B 02493Expected Lots

Mabwell-B (02493) Expected Lots
Offering Mechanism: Mechanism B | Min Subscription: HK$5,528  |  Public Offering Lots: Pool A 11,783lots / Pool B 11,783lots  |  Offer Price: HK$27.64  |  Lot Size: 200shares  |  Public Offering Size: HK$130.3M
1x7676.0x
Recent first-day return
+4.6%
→
Participants
12,127
→
Avg lots
38.7
→
Oversubscription
20x
20x = 12,127 × 38.7 ÷ 23,566 A+H secondary · participants ×0.44 H-share discount 27.5% margin-weighted 100% → 294.3x
Margin dynamics · 2026-04-23 11:32 Margin multiple294.3139422412602x Margin funds426.0100M
Rank Broker Margin funds
1 富途证券富途 304.8100M
2 辉立证券辉立 51.9100M
3 老虎国际老虎 36.9100M
4 华泰国际华泰 10.9100M
5 招银国际招银 10.0100M
6 华盛证券华盛 4.8100M
7 盈立证券盈立 4.8100M
8 信诚证券信诚 4.0100M
9 长桥证券长桥 4.0100M
Margin multiple
TimeMultiple
2026-04-20T06:00:00+08:000
2026-04-20T10:00:30+08:000.05513334254525356
2026-04-20T10:03:28+08:000.20257012574271108
2026-04-20T10:05:27+08:000.3822025701257427
2026-04-20T11:16:09+08:000.4167472709686334
2026-04-20T11:16:19+08:000.6946248445488462
2026-04-20T11:16:44+08:000.7434710515406937
2026-04-20T11:17:03+08:001.0134033439270416
2026-04-20T11:17:22+08:003.0860853945004836
2026-04-20T11:49:18+08:003.1620837363548433
2026-04-20T12:12:03+08:003.24402376675418
2026-04-20T12:12:14+08:003.3549122564598592
2026-04-20T12:12:33+08:003.6858504905347518
2026-04-20T12:13:11+08:005.2334530882962556
2026-04-20T13:45:46+08:005.253419925383446
2026-04-20T13:46:07+08:005.465455299157109
2026-04-20T13:46:47+08:005.580558242365621
2026-04-20T13:47:06+08:006.40272212242642
2026-04-20T14:01:16+08:006.4151582147298605
2026-04-20T14:02:27+08:006.488254801713417
2026-04-20T14:04:23+08:006.606674036202847
2026-04-20T14:04:28+08:006.7257150753074475
2026-04-20T14:05:28+08:007.68605775873981
2026-04-20T14:07:52+08:007.755147160425591
2026-04-20T15:19:47+08:007.8440652203951915
2026-04-20T15:20:14+08:007.88945695730275
2026-04-20T15:20:32+08:007.93104877711759
2026-04-20T15:21:16+08:008.26267790520934
2026-04-20T15:21:43+08:008.953571922067155
2026-04-20T16:51:47+08:009.015130578969186
2026-04-20T16:52:05+08:009.041660909216526
2026-04-20T16:52:19+08:009.12380820782092
2026-04-20T16:52:43+08:0011.127400856708581
2026-04-20T17:18:45+08:0011.166021832250932
2026-04-20T17:19:03+08:0011.238082078209203
2026-04-20T17:19:17+08:0011.449081110957579
2026-04-20T17:20:16+08:0012.678872460964488
2026-04-20T17:31:32+08:0015.71880613513887
2026-04-20T18:06:33+08:0015.75335083598176
2026-04-20T18:07:05+08:0015.768135967942518
2026-04-20T18:07:43+08:0016.022523144949563
2026-04-20T18:07:54+08:0016.44742296531712
2026-04-20T18:08:13+08:0017.00704711897195
2026-04-20T18:09:22+08:0017.07613652065773
2026-04-20T18:11:56+08:0017.80447699322924
2026-04-20T20:08:31+08:0017.80413154622081
2026-04-20T20:08:59+08:0017.855188614066602
2026-04-20T20:09:14+08:0018.33881442586707
2026-04-20T20:09:46+08:0018.369904656625675
2026-04-20T20:10:03+08:0018.72226060522316
2026-04-20T22:08:37+08:0018.75300538897333
2026-04-20T22:08:52+08:0019.2366312007738
2026-04-20T22:09:12+08:0019.215420754456268
2026-04-20T22:09:27+08:0019.443415780019347
2026-04-21T08:32:47+08:0019.589332596379716
2026-04-21T08:33:43+08:0019.589332596379716
2026-04-21T08:33:58+08:0019.887867901063977
2026-04-21T08:34:09+08:0021.09693243056515
2026-04-21T09:03:04+08:0021.160149233107642
2026-04-21T09:03:56+08:0021.215282575652896
2026-04-21T09:05:03+08:0021.624015476025978
2026-04-21T09:05:14+08:0022.218184330523698
2026-04-21T09:16:23+08:0022.383998894569572
2026-04-21T10:12:43+08:0022.402722122426418
2026-04-21T10:13:01+08:0022.3809589608954
2026-04-21T10:13:22+08:0022.604394085947217
2026-04-21T10:14:04+08:0024.020726820505736
2026-04-21T11:00:20+08:0024.35802127953572
2026-04-21T11:03:27+08:0024.39076965593478
2026-04-21T11:03:44+08:0024.305720602459584
2026-04-21T11:05:20+08:0024.084634517065084
2026-04-21T11:51:36+08:0024.153723918750863
2026-04-21T12:11:18+08:0024.184606881304408
2026-04-21T12:11:50+08:0024.260121597346966
2026-04-21T12:12:21+08:0024.488116622910045
2026-04-21T12:13:11+08:0024.568329418267236
2026-04-21T13:42:09+08:0024.647436783197456
2026-04-21T13:43:47+08:0025.448873842752523
2026-04-21T13:44:16+08:0025.525010363410253
2026-04-21T13:44:23+08:0025.52556307862374
2026-04-21T14:00:52+08:0025.385104324996547
2026-04-21T14:02:30+08:0025.44003039933674
2026-04-21T14:03:42+08:0025.9101146884068
2026-04-21T14:04:10+08:0025.945557551471605
2026-04-21T14:14:00+08:0027.03717009810695
2026-04-21T15:05:14+08:0027.058725991432915
2026-04-21T15:05:47+08:0027.122633687992263
2026-04-21T15:06:19+08:0028.117521072267515
2026-04-21T15:07:20+08:0028.171410805582422
2026-04-21T16:18:58+08:0028.542835429045184
2026-04-21T16:19:27+08:0028.56908940168578
2026-04-21T16:20:10+08:0030.938855879508083
2026-04-21T16:20:36+08:0030.972709686334117
2026-04-21T16:21:40+08:0032.35449772004974
2026-04-21T16:57:13+08:0032.49267652342131
2026-04-21T17:00:41+08:0032.50594168854498
2026-04-21T17:05:21+08:0032.482865828381925
2026-04-21T17:05:37+08:0034.33687992261987
2026-04-21T17:06:17+08:0039.034959237253005
2026-04-21T17:39:00+08:0040.20947906591129
2026-04-21T18:04:23+08:0043.5257703468288
2026-04-21T18:04:58+08:0043.78140113306619
2026-04-21T18:05:09+08:0043.88759154345723
2026-04-21T18:06:18+08:0044.43408871079176
2026-04-21T18:06:38+08:0044.5194141218737
2026-04-21T18:06:47+08:0047.98770208649993
2026-04-21T18:08:55+08:0048.394569573027496
2026-04-21T21:25:14+08:0048.40396573165676
2026-04-21T21:27:15+08:0048.926074340196216
2026-04-21T21:27:43+08:0053.147436783197456
2026-04-21T21:27:57+08:0054.12850628713555
2026-04-21T22:09:44+08:0054.355948597485146
2026-04-21T22:10:14+08:0056.08318363962968
2026-04-22T08:31:44+08:0063.475749620008294
2026-04-22T08:33:50+08:0063.88607157662015
2026-04-22T08:33:58+08:0064.19725024181291
2026-04-22T08:34:55+08:0064.19725024181291
2026-04-22T08:57:33+08:0064.6394224126019
2026-04-22T09:08:54+08:0064.9801022523145
2026-04-22T09:10:20+08:0065.03371562802266
2026-04-22T09:10:58+08:0066.42241260190687
2026-04-22T09:12:10+08:0066.97920409009258
2026-04-22T10:18:09+08:0067.04193726682327
2026-04-22T10:20:12+08:0067.33535995578278
2026-04-22T10:20:25+08:0070.8658283819262
2026-04-22T10:21:12+08:0071.63223711482658
2026-04-22T11:01:49+08:0072.19393395053199
2026-04-22T11:03:51+08:0072.48224402376675
2026-04-22T11:04:38+08:0072.83812353185021
2026-04-22T11:05:48+08:0077.46020450462899
2026-04-22T12:11:56+08:0077.51492331076413
2026-04-22T12:12:14+08:0077.52065773110405
2026-04-22T12:12:39+08:0077.7040900925798
2026-04-22T12:14:07+08:0081.93236147574962
2026-04-22T13:46:14+08:0081.99074202017411
2026-04-22T13:46:29+08:0082.15835290866382
2026-04-22T13:46:47+08:0082.41474367831975
2026-04-22T13:47:48+08:0084.55651513057897
2026-04-22T14:07:52+08:0084.60384137073373
2026-04-22T14:08:24+08:0084.63617521072267
2026-04-22T14:08:58+08:0087.9801022523145
2026-04-22T14:10:06+08:0088.09776150338539
2026-04-22T14:10:27+08:0088.51229791350006
2026-04-22T14:11:31+08:0089.35629404449358
2026-04-22T15:10:55+08:0089.39304960619042
2026-04-22T15:11:30+08:0089.3945695730275
2026-04-22T15:12:15+08:0094.20319193035789
2026-04-22T15:12:52+08:0094.66609092165262
2026-04-22T16:05:19+08:0094.70070471189719
2026-04-22T16:06:40+08:0095.47657869282853
2026-04-22T16:07:07+08:00101.22481691308553
2026-04-22T16:38:14+08:00101.91571092994334
2026-04-22T17:11:16+08:00102.1408732900373
2026-04-22T17:12:28+08:00103.01029432085119
2026-04-22T17:13:07+08:00114.90748929114274
2026-04-22T17:27:34+08:00129.27808484178527
2026-04-22T17:41:36+08:00129.8308000552715
2026-04-22T18:04:39+08:00129.90652203951913
2026-04-22T18:05:04+08:00131.28831007323475
2026-04-22T18:05:35+08:00132.1647091336189
2026-04-22T18:06:13+08:00142.79756805306067
2026-04-22T18:07:10+08:00144.1793560867763
2026-04-22T18:12:09+08:00145.6734143982313
2026-04-22T20:57:30+08:00145.76205610059418
2026-04-22T20:59:28+08:00148.35774492192897
2026-04-22T20:59:42+08:00160.17894155036618
2026-04-22T21:04:18+08:00160.94769932292385
2026-04-22T21:05:10+08:00167.81518585049054
2026-04-22T22:04:02+08:00169.37605361337572
2026-04-22T22:05:49+08:00177.54932983280364
2026-04-23T08:39:44+08:00178.91709271797706
2026-04-23T08:39:54+08:00183.67514163327345
2026-04-23T08:40:09+08:00227.24982727649578
2026-04-23T08:40:38+08:00227.24982727649578
2026-04-23T09:05:16+08:00227.98963658974714
2026-04-23T09:06:04+08:00229.02058864170237
2026-04-23T09:07:18+08:00244.9111510294321
2026-04-23T09:09:44+08:00247.85608677628852
2026-04-23T09:10:28+08:00248.89242780157525
2026-04-23T09:36:39+08:00249.092787066464
2026-04-23T10:06:14+08:00249.76951775597624
2026-04-23T10:06:41+08:00279.4365068398508
2026-04-23T11:15:06+08:00280.57896918612687
2026-04-23T11:32:39+08:00294.3139422412602
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
0.50
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
0.60
This model does not support allocation strategy adjustment

Actual vs Predicted Comparison

Using the actual oversubscription ratio 481.71x and current allocation strategy (Pool A α=0.501, Pool B α=0.601) as the baseline, comparing actual vs predicted expected allotment lots per tier

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

LogoMabwell-B 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
294.3x
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
0.50

Pool B

Oversubscription
294.3x
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
0.60
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 Mabwell-B (02493): 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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