Margin dynamics Margin multiple4572.65x Margin funds2438.6100M TradeGo forecast multiple5898.72x
Rank Broker Margin funds
1 富途证券富途 1437.0100M
2 辉立证券辉立 482.0100M
3 老虎国际老虎 230.1100M
4 华泰国际华泰 98.7100M
5 盈立证券盈立 43.5100M
6 致富证券致富 43.2100M
7 复星国际复星 35.8100M
8 华盛证券华盛 30.2100M
9 熊猫证券熊猫 14.8100M
Margin multiple
TimeMultiple
2026-06-15T06:00:00+08:000
2026-06-15T10:09:32+08:000.08400525032814551
2026-06-15T10:09:39+08:000.13032064504031501
2026-06-15T10:09:45+08:000.15938496156009752
2026-06-15T10:09:57+08:000.34689668104256516
2026-06-15T11:07:41+08:000.39996249765610353
2026-06-15T11:08:46+08:000.6084755297206076
2026-06-15T11:09:52+08:000.6651040690043127
2026-06-15T11:10:38+08:000.6654790924432777
2026-06-15T11:11:17+08:002.1843240202512657
2026-06-15T12:09:14+08:002.33433339583724
2026-06-15T12:10:15+08:002.4183386461653855
2026-06-15T12:11:49+08:002.6409150571910742
2026-06-15T12:12:17+08:005.153572098256141
2026-06-15T12:14:10+08:005.2257641102568915
2026-06-15T12:15:04+08:005.401462591411963
2026-06-15T13:46:23+08:005.428089255578474
2026-06-15T13:47:52+08:005.5233452090755675
2026-06-15T13:49:28+08:005.537033564597787
2026-06-15T13:49:53+08:005.558784924057754
2026-06-15T13:50:22+08:006.777611100693793
2026-06-15T14:01:23+08:006.875117194824677
2026-06-15T14:01:55+08:006.879617476092256
2026-06-15T14:03:29+08:007.021001312582037
2026-06-15T14:03:57+08:007.068441777611101
2026-06-15T14:04:39+08:007.175698481155072
2026-06-15T14:07:18+08:007.207200450028127
2026-06-15T14:07:51+08:008.369773110819427
2026-06-15T15:09:29+08:008.395087192949559
2026-06-15T15:11:03+08:008.396024751546971
2026-06-15T15:11:36+08:008.439902493905869
2026-06-15T15:12:11+08:008.476092255765986
2026-06-15T15:12:34+08:008.499156197262328
2026-06-15T15:13:08+08:009.549221826364148
2026-06-15T16:12:46+08:009.577723607725483
2026-06-15T16:13:39+08:009.578661166322895
2026-06-15T16:14:23+08:0010.086817926120382
2026-06-15T16:15:11+08:0010.10331895743484
2026-06-15T16:15:44+08:0010.281455090943185
2026-06-15T16:16:17+08:0012.04406525407838
2026-06-15T16:34:58+08:0012.175323457716107
2026-06-15T17:04:16+08:0012.168385524095257
2026-06-15T17:04:44+08:0012.411400712544534
2026-06-15T17:05:45+08:0013.849990624414026
2026-06-15T17:06:09+08:0013.945434089630602
2026-06-15T17:06:45+08:0016.350834427151696
2026-06-15T17:07:34+08:0021.676167260453777
2026-06-15T18:08:21+08:0021.797674854678416
2026-06-15T18:09:13+08:0027.98556159759985
2026-06-15T18:09:27+08:0028.548096756047254
2026-06-15T18:10:06+08:0029.63828989311832
2026-06-15T18:11:04+08:0029.83798987436715
2026-06-15T18:11:37+08:0030.608475529720607
2026-06-15T18:14:35+08:0031.602287642977686
2026-06-15T18:15:41+08:0032.37446090380649
2026-06-15T20:19:01+08:0033.0588786799175
2026-06-15T20:20:55+08:0033.1518844927808
2026-06-15T20:22:24+08:0034.96268516782299
2026-06-15T20:23:00+08:0035.56403525220326
2026-06-15T20:24:02+08:0035.780986311644476
2026-06-15T20:24:44+08:0040.20626289143071
2026-06-15T20:25:11+08:0041.74385899118695
2026-06-15T21:47:30+08:0041.79692480780049
2026-06-15T22:06:33+08:0042.959497468591785
2026-06-15T22:06:42+08:0043.069754359647476
2026-06-15T22:07:20+08:0043.57734858428652
2026-06-15T22:07:37+08:0043.672979561222576
2026-06-15T22:08:05+08:0048.079504969060565
2026-06-16T08:50:58+08:0048.079504969060565
2026-06-16T08:52:12+08:0048.134820926307896
2026-06-16T08:52:16+08:0048.2203262703919
2026-06-16T08:54:02+08:0048.7776111006938
2026-06-16T08:54:05+08:0049.80948809300581
2026-06-16T08:54:30+08:0059.953872117007315
2026-06-16T09:01:29+08:0061.67560472529533
2026-06-16T09:06:54+08:0063.547159197449844
2026-06-16T09:09:36+08:0063.79392462028877
2026-06-16T09:10:06+08:0063.79804987811738
2026-06-16T09:10:46+08:0064.47984249015563
2026-06-16T09:11:20+08:0068.38008625539096
2026-06-16T09:11:55+08:0069.41946371648228
2026-06-16T10:20:52+08:0070.48790549409338
2026-06-16T10:21:59+08:0070.92874554659666
2026-06-16T10:22:29+08:0070.9369960622539
2026-06-16T10:22:50+08:0076.44984061503844
2026-06-16T10:23:35+08:0076.92143258953685
2026-06-16T10:24:02+08:0078.14869679354959
2026-06-16T11:15:29+08:0078.3208325520345
2026-06-16T11:15:51+08:0078.32589536846052
2026-06-16T11:16:19+08:0079.12563285205326
2026-06-16T11:17:03+08:0079.14269641852616
2026-06-16T11:17:22+08:0079.85880367522971
2026-06-16T11:17:43+08:0083.81530095630977
2026-06-16T12:04:09+08:0084.56441027564223
2026-06-16T12:05:41+08:0084.56216013500844
2026-06-16T12:06:12+08:0085.53140821301331
2026-06-16T12:07:27+08:0085.55334708419277
2026-06-16T12:08:14+08:0085.63697731108195
2026-06-16T12:08:35+08:0089.0684417776111
2026-06-16T13:44:41+08:0089.27976748546784
2026-06-16T13:45:24+08:0089.33433339583723
2026-06-16T13:45:46+08:0089.34314644665291
2026-06-16T13:46:17+08:0091.08700543783986
2026-06-16T13:46:50+08:0091.15807237952372
2026-06-16T13:47:09+08:0091.50853178323645
2026-06-16T14:01:21+08:0092.01425089068067
2026-06-16T14:02:02+08:0092.04050253140821
2026-06-16T14:03:07+08:0094.12132008250515
2026-06-16T14:06:33+08:0094.2289518094881
2026-06-16T14:07:23+08:0094.73523345209075
2026-06-16T14:07:49+08:0094.73654603412713
2026-06-16T14:08:07+08:0097.08044252765798
2026-06-16T15:07:54+08:0097.64297768610538
2026-06-16T15:08:08+08:0097.64560285017814
2026-06-16T15:08:32+08:0097.96756047252953
2026-06-16T15:08:52+08:0098.07144196512282
2026-06-16T15:09:21+08:0098.14925932870804
2026-06-16T15:09:44+08:0098.33639602475155
2026-06-16T15:10:41+08:00100.51153197074817
2026-06-16T16:01:02+08:00100.66866679167448
2026-06-16T16:01:35+08:00100.84980311269454
2026-06-16T16:04:41+08:00101.16519782486405
2026-06-16T16:04:58+08:00101.5218451153197
2026-06-16T16:05:27+08:00101.53328333020814
2026-06-16T16:06:08+08:00103.40840052503282
2026-06-16T17:20:31+08:00104.44534033377086
2026-06-16T17:21:28+08:00104.91524470279393
2026-06-16T17:21:59+08:00104.95780986311644
2026-06-16T17:22:37+08:00105.18863678979936
2026-06-16T17:23:20+08:00105.68160510031878
2026-06-16T17:23:49+08:00111.5882242640165
2026-06-16T18:03:30+08:00111.64841552597038
2026-06-16T18:04:16+08:00139.2126382898931
2026-06-16T18:04:20+08:00139.24882805175324
2026-06-16T18:04:58+08:00139.78192387024188
2026-06-16T18:05:31+08:00140.0031876992312
2026-06-16T18:06:05+08:00140.11513219576224
2026-06-16T18:06:32+08:00142.85280330020626
2026-06-16T18:07:00+08:00144.19013688355523
2026-06-16T20:12:27+08:00144.3776486030377
2026-06-16T20:14:53+08:00144.50009375585975
2026-06-16T20:15:43+08:00144.88805550346896
2026-06-16T20:27:16+08:00144.92143258953683
2026-06-16T20:28:11+08:00145.25801612600787
2026-06-16T20:29:07+08:00146.34314644665292
2026-06-16T20:30:31+08:00149.90586911681982
2026-06-16T20:30:51+08:00152.1935120945059
2026-06-16T21:56:19+08:00152.28745546596662
2026-06-16T22:06:46+08:00156.18769923120195
2026-06-16T22:06:55+08:00157.31633227076694
2026-06-16T22:07:23+08:00158.00356272267015
2026-06-16T22:07:37+08:00158.1295705981624
2026-06-16T22:07:59+08:00159.2171385711607
2026-06-17T09:15:38+08:00160.00337521095068
2026-06-17T09:15:44+08:00160.11738233639602
2026-06-17T09:15:57+08:00160.11738233639602
2026-06-17T09:16:03+08:00162.63041440090007
2026-06-17T09:16:09+08:00162.93137071066943
2026-06-17T09:16:15+08:00177.5197824864054
2026-06-17T09:16:21+08:00178.59291205700356
2026-06-17T09:16:34+08:00179.04237764860304
2026-06-17T09:16:40+08:00179.60172510781925
2026-06-17T09:16:45+08:00180.09206825426588
2026-06-17T09:16:52+08:00180.19857491093194
2026-06-17T09:16:58+08:00184.58634914682168
2026-06-17T10:07:13+08:00185.1488843052691
2026-06-17T10:07:19+08:00185.34258391149447
2026-06-17T10:07:31+08:00185.5218451153197
2026-06-17T10:08:00+08:00186.5077817363585
2026-06-17T10:08:07+08:00186.8843052690793
2026-06-17T10:08:18+08:00197.89124320270017
2026-06-17T11:16:10+08:00198.10856928558036
2026-06-17T11:16:26+08:00198.37614850928182
2026-06-17T11:18:28+08:00201.57997374835927
2026-06-17T11:18:44+08:00202.21901368835552
2026-06-17T11:19:20+08:00202.7646727920495
2026-06-17T11:20:05+08:00215.12169510594413
2026-06-17T12:14:25+08:00215.18488655540972
2026-06-17T12:14:58+08:00215.40802550159384
2026-06-17T12:16:50+08:00216.9818113632102
2026-06-17T12:19:13+08:00217.63453965872867
2026-06-17T12:20:11+08:00219.5559722482655
2026-06-17T12:20:51+08:00233.00056253515845
2026-06-17T13:43:41+08:00233.60491280705045
2026-06-17T13:44:41+08:00233.9444965310332
2026-06-17T13:46:13+08:00235.28089255578473
2026-06-17T13:46:29+08:00235.31164447777985
2026-06-17T13:48:20+08:00235.58784924057753
2026-06-17T13:50:35+08:00244.8696793549597
2026-06-17T14:08:19+08:00245.2546409150572
2026-06-17T14:08:55+08:00245.33077067316708
2026-06-17T14:10:47+08:00246.261953872117
2026-06-17T14:11:00+08:00246.27939246202888
2026-06-17T14:11:49+08:00246.90736921057567
2026-06-17T14:12:45+08:00256.65797862366395
2026-06-17T14:13:45+08:00264.5040315019689
2026-06-17T15:07:24+08:00266.1661353834615
2026-06-17T15:07:51+08:00266.2630789424339
2026-06-17T15:08:30+08:00266.4204012750797
2026-06-17T15:09:35+08:00267.48828051753236
2026-06-17T15:10:11+08:00267.6973560847553
2026-06-17T15:11:29+08:00277.29795612225763
2026-06-17T16:27:17+08:00277.54622163885244
2026-06-17T16:28:25+08:00281.4305269079317
2026-06-17T16:31:32+08:00332.69248078004875
2026-06-17T16:32:05+08:00332.84699043690233
2026-06-17T16:32:53+08:00448.12919557472344
2026-06-17T16:34:36+08:00461.44252765797864
2026-06-17T16:35:53+08:00463.0343146446653
2026-06-17T16:50:44+08:00466.59703731483216
2026-06-17T17:01:42+08:00495.9594974685918
2026-06-17T17:02:44+08:00502.89349334333394
2026-06-17T17:04:33+08:00537.5870991936996
2026-06-17T17:05:27+08:00537.7311081942621
2026-06-17T17:06:23+08:00553.6495405962872
2026-06-17T17:07:04+08:00853.1245077817364
2026-06-17T17:36:05+08:00857.6247890493156
2026-06-17T18:03:55+08:00861.7020438777423
2026-06-17T18:05:02+08:00871.0378773673355
2026-06-17T18:07:21+08:00879.2925182823926
2026-06-17T18:08:12+08:00885.5329083067692
2026-06-17T18:08:31+08:00911.9863116444777
2026-06-17T18:09:21+08:001080.5780986311645
2026-06-17T18:11:09+08:001139.0174385899118
2026-06-17T20:22:25+08:001377.157322332646
2026-06-17T20:23:16+08:001396.609038064879
2026-06-17T20:24:14+08:001402.29345584099
2026-06-17T20:25:27+08:001411.049315582224
2026-06-17T20:26:37+08:001449.9885617851116
2026-06-17T20:32:22+08:001456.0151884492782
2026-06-17T20:33:11+08:001712.4374648415526
2026-06-17T22:24:02+08:001719.653290830677
2026-06-17T22:25:16+08:001728.3339583723982
2026-06-17T22:26:03+08:001730.6862928933058
2026-06-17T22:26:24+08:001733.2458278642416
2026-06-17T22:27:03+08:001776.5595349709356
2026-06-17T22:28:35+08:002089.422838927433
2026-06-18T09:07:59+08:002121.349146821676
2026-06-18T09:08:06+08:002123.8424901556346
2026-06-18T09:08:13+08:002138.7121695105943
2026-06-18T09:08:31+08:002138.7121695105943
2026-06-18T09:08:49+08:002235.8569285580347
2026-06-18T09:08:57+08:002240.4948434277144
2026-06-18T09:09:05+08:003024.312582036377
2026-06-18T09:09:19+08:003045.97093568348
2026-06-18T09:09:33+08:003073.363772735796
2026-06-18T09:09:39+08:003091.5524095255955
2026-06-18T09:09:45+08:003121.4860303768987
2026-06-18T09:09:52+08:003133.5914119632475
2026-06-18T09:10:00+08:003338.9167447965497
2026-06-18T09:10:06+08:003339.6204762797674
2026-06-18T10:02:25+08:003345.6111006937936
2026-06-18T10:09:49+08:003392.2002625164073
2026-06-18T10:09:57+08:003778.793174573411
2026-06-18T10:46:49+08:004410.707669229327
2026-06-18T11:22:14+08:004416.388149259329
2026-06-18T14:21:33+08:004572.65
TradeGo forecast multiple
TimeMultiple
Broker margin funds trend
TimeBrokerMargin funds
Prediction Model 1-Lot Expected Lots— Lots for expected 1-lot allotment—
Multiple derivation
Recent first-day return
+4.6%
→
Participants
33,268
→
Avg lots
70.3
→
Oversubscription
223x
223x = 33,268 × 70.3 ÷ 10,498 Robot margin-weighted 100% → 5898.7x
1x18751.0x
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
0.51
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
0.61
This model does not support allocation strategy adjustment

Actual vs Predicted Comparison

Using the actual oversubscription ratio 5934.56x and current allocation strategy (Pool A α=0.509, Pool B α=0.609) as the baseline, comparing actual vs predicted expected allotment lots per tier

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

LogoSeer Tech Allotment Prediction Matrix

Rows are subscription tiers, columns are different oversubscription ratios, values are expected allotment lots; green indicates expected ≥1 lot. Non-preset multiples are interpolated from the nearest grid points.

Offering Mechanism

18C

HKEX Listing Rule Chapter 18C for specialist technology companies. Mechanisms A and B do not apply. Initial allocation 5%, with clawback: 10x to below 50x → 10%, 50x or above → 20%. At least 50% of total offering shares must be taken up by independent pricing investors in the placing tranche.

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 Seer Tech (06106): 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 22087 allotment-tier records across 592 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). You can override the oversubscription multiple and the allocation-method α right on the page, replacing cibo's defaults to see expected lots under your own scenario. How allotment rates and clawback work is explained in How Hong Kong IPO Allotment Rates Work.
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.

Cibo — HK IPO Allotment Forecasts, Allottee Profiling & Stock Connect