Lemo Services 02539Expected Lots

Lemo Services (02539) Expected Lots
Offering Mechanism: Mechanism B | Min Subscription: HK$4,000  |  Public Offering Lots: Pool A 2,778lots / Pool B 2,778lots  |  Offer Price: HK$40.00  |  Lot Size: 100shares  |  Public Offering Size: HK$22.2M
1x44996.0x
Recent first-day return
+4.6%
→
Participants
18,104
→
Avg lots
77.7
→
Oversubscription
253x
253x = 18,104 × 77.7 ÷ 5,556 margin-weighted 100% → 7119.4x
Margin dynamics · 2025-11-28 17:11 Margin multiple5932.83x Margin funds1318.5100M TradeGo forecast multiple7119.4x
Rank Broker Margin funds
1 富途证券富途 754.6100M
2 辉立证券辉立 255.0100M
3 老虎国际老虎 167.2100M
4 华泰国际华泰 74.8100M
5 华盛证券华盛 28.0100M
6 信诚证券信诚 10.0100M
7 卓锐证券 9.1100M
8 长桥证券长桥 7.7100M
9 盈立证券盈立 7.6100M
11 TradeGo MarketsTradeGo 3.7100M
12 艾德证券艾德 618610K
13 盈宝证券盈宝 208810K
Margin multiple
TimeMultiple
2025-11-25T06:00:00+08:000
2025-11-25T10:00:51+08:000.016201620162016202
2025-11-25T10:04:32+08:000.032403240324032405
2025-11-25T10:04:48+08:001.207020702070207
2025-11-25T10:05:50+08:002.107110711071107
2025-11-25T11:11:06+08:002.192169216921692
2025-11-25T11:11:28+08:002.423042304230423
2025-11-25T11:11:42+08:002.8730873087308733
2025-11-25T11:11:53+08:004.265976597659766
2025-11-25T11:12:02+08:009.306480648064806
2025-11-25T12:03:49+08:009.405940594059405
2025-11-25T12:03:58+08:0010.135463546354636
2025-11-25T12:04:20+08:0011.894689468946895
2025-11-25T12:06:58+08:0018.375337533753374
2025-11-25T13:43:59+08:0018.396939693969397
2025-11-25T13:44:05+08:0018.855085508550854
2025-11-25T13:44:23+08:0020.244824482448244
2025-11-25T13:44:33+08:0022.81008100810081
2025-11-25T13:45:43+08:0023.17011701170117
2025-11-25T14:09:19+08:0023.371287128712872
2025-11-25T14:10:07+08:0023.584158415841586
2025-11-25T14:10:17+08:0024.047704770477047
2025-11-25T14:10:29+08:0025.577857785778576
2025-11-25T14:11:28+08:0027.083708370837083
2025-11-25T15:08:36+08:0027.180918091809183
2025-11-25T15:08:43+08:0027.295679567956796
2025-11-25T15:08:57+08:0030.355985598559855
2025-11-25T15:09:07+08:0031.50945094509451
2025-11-25T15:48:00+08:0032.85958595859586
2025-11-25T16:19:13+08:0032.9032403240324
2025-11-25T16:19:28+08:0035.126912691269126
2025-11-25T16:19:49+08:0037.78217821782178
2025-11-25T16:20:06+08:0038.05265526552655
2025-11-25T17:07:18+08:0039.85283528352835
2025-11-25T17:07:30+08:0047.05355535553555
2025-11-25T17:07:52+08:0072.16606660666066
2025-11-25T17:08:03+08:0081.26192619261926
2025-11-25T17:08:21+08:0081.37803780378037
2025-11-25T17:08:56+08:0081.4950495049505
2025-11-25T18:00:33+08:0083.74527452745275
2025-11-25T18:00:40+08:0083.76732673267327
2025-11-25T18:13:59+08:0086.94914491449146
2025-11-25T18:14:10+08:0088.18586858685869
2025-11-25T18:14:24+08:0099.66201620162016
2025-11-25T18:17:22+08:00106.61701170117011
2025-11-25T20:15:41+08:00106.66471647164717
2025-11-25T20:15:46+08:00107.94419441944194
2025-11-25T20:15:56+08:00113.67641764176417
2025-11-25T20:16:07+08:00122.85733573357335
2025-11-25T20:16:32+08:00124.38163816381638
2025-11-25T20:16:42+08:00127.30828082808281
2025-11-25T20:16:52+08:00135.5891089108911
2025-11-25T22:03:52+08:00136.12916291629162
2025-11-25T22:04:03+08:00138.36948694869486
2025-11-25T22:04:14+08:00146.74032403240324
2025-11-25T22:04:25+08:00147.05355535553556
2025-11-25T22:04:40+08:00151.03150315031502
2025-11-25T22:05:32+08:00155.66696669666968
2025-11-26T08:36:29+08:00155.67371737173718
2025-11-26T08:36:33+08:00155.67641764176417
2025-11-26T08:36:37+08:00155.67911791179117
2025-11-26T08:36:46+08:00155.67911791179117
2025-11-26T08:37:00+08:00158.42664266426644
2025-11-26T08:37:07+08:00165.22817281728172
2025-11-26T08:37:25+08:00197.94644464446444
2025-11-26T09:03:30+08:00198.51890189018903
2025-11-26T09:03:57+08:00200.76867686768676
2025-11-26T09:04:49+08:00207.0175517551755
2025-11-26T09:05:51+08:00219.12376237623764
2025-11-26T10:04:18+08:00223.66921692169217
2025-11-26T10:04:27+08:00228.42394239423942
2025-11-26T10:04:56+08:00233.3114311431143
2025-11-26T10:05:16+08:00233.54095409540955
2025-11-26T10:05:31+08:00252.21782178217822
2025-11-26T11:09:14+08:00253.27047704770476
2025-11-26T11:09:43+08:00254.08505850585058
2025-11-26T11:09:58+08:00258.25202520252026
2025-11-26T11:10:10+08:00269.54815481548155
2025-11-26T11:52:25+08:00273.73357335733573
2025-11-26T12:05:18+08:00273.9207920792079
2025-11-26T12:05:26+08:00274.2884788478848
2025-11-26T12:05:29+08:00278.6908190819082
2025-11-26T12:05:45+08:00292.46219621962194
2025-11-26T13:52:50+08:00292.94689468946893
2025-11-26T13:53:08+08:00293.04545454545456
2025-11-26T13:53:25+08:00295.13366336633663
2025-11-26T13:53:35+08:00301.83933393339333
2025-11-26T14:04:33+08:00301.95499549954997
2025-11-26T14:04:55+08:00302.464896489649
2025-11-26T14:05:08+08:00305.7992799279928
2025-11-26T14:05:24+08:00315.92529252925294
2025-11-26T14:09:45+08:00323.532403240324
2025-11-26T15:03:24+08:00323.6143114311431
2025-11-26T15:03:31+08:00327.0859585958596
2025-11-26T15:03:43+08:00327.93834383438343
2025-11-26T15:06:36+08:00338.91944194419443
2025-11-26T15:14:48+08:00351.0706570657066
2025-11-26T16:06:25+08:00351.42799279927993
2025-11-26T16:06:35+08:00356.25652565256524
2025-11-26T16:06:46+08:00369.35283528352835
2025-11-26T16:07:08+08:00369.8838883888389
2025-11-26T17:22:35+08:00369.93879387938796
2025-11-26T17:23:10+08:00424.75832583258324
2025-11-26T17:23:25+08:00425.45769576957696
2025-11-26T17:23:35+08:00651.6953195319531
2025-11-26T17:30:53+08:00670.1471647164716
2025-11-26T17:32:48+08:00764.2065706570658
2025-11-26T18:02:40+08:00766.9396939693969
2025-11-26T18:11:12+08:00771.9401440144014
2025-11-26T18:11:20+08:00788.8424842484249
2025-11-26T18:11:41+08:00874.3510351035103
2025-11-26T18:14:11+08:00897.0382538253825
2025-11-26T19:56:26+08:00897.6269126912691
2025-11-26T19:56:31+08:00912.9815481548155
2025-11-26T19:56:38+08:00916.8933393339333
2025-11-26T19:57:03+08:00982.1498649864986
2025-11-26T20:11:06+08:00984.0832583258326
2025-11-26T20:11:11+08:00996.0774077407741
2025-11-26T20:11:27+08:001053.863186318632
2025-11-26T22:02:47+08:001054.8955895589559
2025-11-26T22:02:51+08:001062.9500450045005
2025-11-26T22:03:01+08:001113.8051305130514
2025-11-26T22:03:20+08:001114.5738073807381
2025-11-26T22:03:25+08:001129.610711071107
2025-11-26T22:06:24+08:001184.8312331233124
2025-11-27T08:48:20+08:001186.2389738973898
2025-11-27T08:48:24+08:001186.2569756975697
2025-11-27T08:48:29+08:001186.2565256525652
2025-11-27T08:48:46+08:001207.6354635463547
2025-11-27T08:48:52+08:001249.1206120612062
2025-11-27T08:49:09+08:001249.1206120612062
2025-11-27T08:49:20+08:001492.5949594959495
2025-11-27T09:17:00+08:001522.6579657965797
2025-11-27T09:17:11+08:001523.6557155715573
2025-11-27T09:18:02+08:001531.6314131413142
2025-11-27T09:18:11+08:001531.59900990099
2025-11-27T09:18:21+08:001597.8456345634563
2025-11-27T09:19:07+08:001683.5
2025-11-27T10:04:04+08:001684.1723672367236
2025-11-27T10:05:18+08:001708.5445544554455
2025-11-27T10:05:36+08:001708.5679567956795
2025-11-27T10:05:45+08:001835.4806480648065
2025-11-27T11:10:17+08:001849.6089108910892
2025-11-27T11:10:56+08:001875.513501350135
2025-11-27T11:11:44+08:001982.8942394239423
2025-11-27T12:11:33+08:001983.3492349234923
2025-11-27T12:12:05+08:001986.981098109811
2025-11-27T12:12:40+08:002010.5094509450946
2025-11-27T12:12:59+08:002112.3996399639964
2025-11-27T13:52:46+08:002127.4536453645364
2025-11-27T13:53:41+08:002129.0373537353735
2025-11-27T13:54:04+08:002129.265526552655
2025-11-27T13:54:39+08:002195.197119711971
2025-11-27T13:55:10+08:002217.6993699369937
2025-11-27T14:16:09+08:002232.8523852385238
2025-11-27T14:16:39+08:002234.15301530153
2025-11-27T14:17:25+08:002234.273627362736
2025-11-27T14:18:34+08:002318.5220522052205
2025-11-27T14:19:21+08:002372.6372637263726
2025-11-27T15:10:27+08:002372.818181818182
2025-11-27T15:10:53+08:002374.0211521152114
2025-11-27T15:11:41+08:002389.4941494149416
2025-11-27T15:11:59+08:002492.5994599459946
2025-11-27T16:18:30+08:002493.7385238523852
2025-11-27T16:19:54+08:002518.0319531953196
2025-11-27T16:20:55+08:002619.247074707471
2025-11-27T16:22:02+08:002628.24797479748
2025-11-27T16:31:50+08:002659.751125112511
2025-11-27T17:00:19+08:002661.500900090009
2025-11-27T17:03:36+08:002692.1444644464445
2025-11-27T17:06:19+08:002824.9977497749774
2025-11-27T17:17:12+08:003331.2983798379837
2025-11-27T17:30:25+08:003340.2992799279928
2025-11-27T18:01:57+08:003340.4279927992798
2025-11-27T18:02:09+08:003381.279477947795
2025-11-27T18:02:14+08:003417.2830783078307
2025-11-27T18:05:11+08:003436.839783978398
2025-11-27T18:05:29+08:003542.5553555355536
2025-11-27T18:16:13+08:003585.684518451845
2025-11-27T20:16:25+08:003585.785778577858
2025-11-27T20:17:04+08:003601.464896489649
2025-11-27T20:17:14+08:003686.8384338433843
2025-11-27T20:18:35+08:003708.0985598559855
2025-11-27T20:18:46+08:003784.9212421242123
2025-11-27T21:26:58+08:003808.571107110711
2025-11-27T21:27:08+08:003893.179567956796
2025-11-27T22:04:05+08:003919.9410441044106
2025-11-27T22:10:11+08:004061.9752475247524
2025-11-28T08:36:04+08:004086.8177317731775
2025-11-28T08:36:07+08:004206.694419441944
2025-11-28T08:37:21+08:004938.017551755175
2025-11-28T08:39:45+08:004938.017551755175
2025-11-28T09:21:57+08:004940.450045004501
2025-11-28T09:23:07+08:005435.499549954996
2025-11-28T09:23:21+08:005712.772277227723
2025-11-28T09:24:01+08:005752.3406840684065
2025-11-28T09:28:37+08:005784.743924392439
2025-11-28T09:43:33+08:005893.267776777678
2025-11-28T10:07:19+08:005913.388838883889
2025-11-28T17:11:36+08:005932.83
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
0.56
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
0.66
This model does not support allocation strategy adjustment

Actual vs Predicted Comparison

Using the actual oversubscription ratio 7324.29x and current allocation strategy (Pool A α=0.555, Pool B α=0.655) as the baseline, comparing actual vs predicted expected allotment lots per tier

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

LogoLemo Services 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
7119.4x
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
0.56

Pool B

Oversubscription
7119.4x
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
0.66
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 Lemo Services (02539): 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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