Longcheer 09611Expected Lots

Longcheer (09611) Expected Lots
Offering Mechanism: Mechanism B | Min Subscription: HK$3,100  |  Public Offering Lots: Pool A 26,130lots / Pool B 26,130lots  |  Offer Price: HK$31.00  |  Lot Size: 100shares  |  Public Offering Size: HK$162.0M
1x6172.0x
Recent first-day return
-0.2%
→
Participants
12,296
→
Avg lots
57.3
→
Oversubscription
13x
13x = 12,296 × 57.3 ÷ 52,260 A+H secondary · participants ×0.45 H-share discount 40.2% margin-weighted 100% → 728.7x
Margin dynamics · 2026-01-19 11:54 Margin multiple728.7142768964878x Margin funds1180.6100M
Rank Broker Margin funds
1 富途证券富途 823.4100M
2 辉立证券辉立 346.0100M
3 老虎国际老虎 131.0100M
4 华泰国际华泰 39.8100M
5 华盛证券华盛 20.8100M
6 盈立证券盈立 10.7100M
7 致富证券致富 7.7100M
8 长桥证券长桥 6.1100M
9 信诚证券信诚 3.0100M
Margin multiple
TimeMultiple
2026-01-14T06:00:00+08:000
2026-01-14T10:03:58+08:000.057403863959014874
2026-01-14T10:04:01+08:001.1673970742546755
2026-01-14T10:07:06+08:001.4883649157459415
2026-01-14T10:52:06+08:001.5809517930991914
2026-01-14T11:01:53+08:001.617863094870687
2026-01-14T11:08:50+08:002.781680143201037
2026-01-14T11:09:00+08:003.668785877414974
2026-01-14T11:09:03+08:009.625208320474044
2026-01-14T12:00:41+08:009.87210666008271
2026-01-14T12:00:46+08:009.897413739892599
2026-01-14T12:06:01+08:0011.070798098882785
2026-01-14T12:06:06+08:0011.418184062712179
2026-01-14T12:06:09+08:0015.961113511511636
2026-01-14T13:40:18+08:0015.977717424850319
2026-01-14T13:40:29+08:0017.20683908400716
2026-01-14T13:40:33+08:0020.69427813097957
2026-01-14T14:10:23+08:0020.707857539658047
2026-01-14T14:10:26+08:0021.853959632121473
2026-01-14T14:10:29+08:0023.619282760323436
2026-01-14T14:11:46+08:0024.216344670082094
2026-01-14T15:34:04+08:0024.23418307511882
2026-01-14T15:34:20+08:0024.69403123263996
2026-01-14T15:34:23+08:0026.934633664588606
2026-01-14T16:36:40+08:0026.944571322757856
2026-01-14T16:36:43+08:0027.62730695636072
2026-01-14T16:36:46+08:0027.626442812172087
2026-01-14T16:36:50+08:0029.317696438491453
2026-01-14T17:02:04+08:0029.32788099500031
2026-01-14T17:04:18+08:0029.898956854515152
2026-01-14T17:09:31+08:0033.07777297697673
2026-01-14T17:23:00+08:0039.86747731621505
2026-01-14T18:05:55+08:0039.87371149929017
2026-01-14T18:06:01+08:0040.3275723720758
2026-01-14T18:06:07+08:0042.24720696253318
2026-01-14T18:06:53+08:0043.785815690389484
2026-01-14T19:57:43+08:0043.7948892043701
2026-01-14T19:57:48+08:0045.07209431516573
2026-01-14T19:57:53+08:0045.16461946793408
2026-01-14T19:57:58+08:0046.905252762175174
2026-01-14T20:19:45+08:0046.95691623973829
2026-01-14T20:19:50+08:0047.09715449663601
2026-01-14T20:19:56+08:0048.331646194679344
2026-01-14T22:02:49+08:0048.750262329485835
2026-01-14T22:02:54+08:0049.01864082464046
2026-01-14T22:02:59+08:0050.8518609962348
2026-01-14T22:03:10+08:0051.35417566816863
2026-01-14T22:03:15+08:0051.658416147151414
2026-01-14T22:15:56+08:0053.645947781001176
2026-01-15T08:34:12+08:0053.89772236281711
2026-01-15T08:34:15+08:0054.41620887599531
2026-01-15T08:34:34+08:0054.846058885253996
2026-01-15T08:34:55+08:0054.846058885253996
2026-01-15T08:35:01+08:0063.77143386210728
2026-01-15T09:08:33+08:0063.82729461144374
2026-01-15T09:08:49+08:0064.15258317387816
2026-01-15T09:08:52+08:0064.13357200172828
2026-01-15T09:08:54+08:0065.6211344978705
2026-01-15T09:09:28+08:0066.77347077340904
2026-01-15T09:21:12+08:0068.00796247145237
2026-01-15T10:21:54+08:0069.94204061477687
2026-01-15T10:21:57+08:0070.23424479970372
2026-01-15T10:22:00+08:0070.25158940806124
2026-01-15T10:22:03+08:0072.9859885192272
2026-01-15T11:09:47+08:0073.12789333991729
2026-01-15T11:09:53+08:0074.00166656379236
2026-01-15T11:09:56+08:0073.99907413122646
2026-01-15T11:09:59+08:0076.99271649898155
2026-01-15T12:03:03+08:0077.1111659774088
2026-01-15T12:03:10+08:0077.04092339979013
2026-01-15T12:03:18+08:0077.24850317881612
2026-01-15T12:07:11+08:0079.01382630701808
2026-01-15T13:44:05+08:0079.12579470403061
2026-01-15T13:44:08+08:0079.30973396703907
2026-01-15T13:44:11+08:0079.38306277390285
2026-01-15T13:44:14+08:0081.53725078698845
2026-01-15T13:44:20+08:0081.8458737114993
2026-01-15T14:00:20+08:0081.96382939324734
2026-01-15T14:00:55+08:0082.69446330473427
2026-01-15T14:09:31+08:0082.80316029874699
2026-01-15T14:09:35+08:0082.80445651502994
2026-01-15T14:09:39+08:0084.2364668847602
2026-01-15T15:05:45+08:0084.38349484599716
2026-01-15T15:05:48+08:0084.69057465588544
2026-01-15T15:05:51+08:0084.82291216591568
2026-01-15T15:05:53+08:0086.32281957903832
2026-01-15T15:06:09+08:0087.55731127708167
2026-01-15T16:26:41+08:0087.73594222578853
2026-01-15T16:26:50+08:0088.26578606258873
2026-01-15T16:26:52+08:0088.4674402814641
2026-01-15T16:26:55+08:0090.66483550398124
2026-01-15T17:03:34+08:0090.85167582248009
2026-01-15T17:03:37+08:0091.26646503302266
2026-01-15T17:03:40+08:0091.2905993457194
2026-01-15T17:19:51+08:0092.23498549472255
2026-01-15T17:20:01+08:0093.16085426825505
2026-01-15T17:20:23+08:00106.43164002222085
2026-01-15T18:03:43+08:00106.50459848157521
2026-01-15T18:03:49+08:00106.44126905746559
2026-01-15T18:03:53+08:00106.53021418430961
2026-01-15T18:05:00+08:00107.43102277637183
2026-01-15T18:05:20+08:00109.61607308190852
2026-01-15T20:41:05+08:00110.10986976112585
2026-01-15T20:41:11+08:00110.14684278748226
2026-01-15T20:41:17+08:00110.38954385531757
2026-01-15T20:41:23+08:00110.54280599962965
2026-01-15T20:41:29+08:00112.61675205234245
2026-01-15T20:41:46+08:00112.84463921980125
2026-01-15T20:41:54+08:00112.9058082834393
2026-01-15T20:42:01+08:00113.97364360224678
2026-01-15T22:09:59+08:00114.86111968397013
2026-01-15T22:10:03+08:00114.91525214492933
2026-01-15T22:10:09+08:00116.89043886179866
2026-01-15T22:10:19+08:00117.65094747237825
2026-01-15T22:10:24+08:00117.78501327078575
2026-01-15T22:10:28+08:00119.34047281032035
2026-01-16T08:32:13+08:00119.58805012036294
2026-01-16T08:32:32+08:00120.20208629096969
2026-01-16T08:32:35+08:00120.66076168137769
2026-01-16T08:32:44+08:00128.49361150546264
2026-01-16T08:32:57+08:00128.49361150546264
2026-01-16T09:00:38+08:00128.68106906981052
2026-01-16T09:01:25+08:00129.5128695759521
2026-01-16T09:03:58+08:00129.86093451021543
2026-01-16T09:04:04+08:00129.89259922227023
2026-01-16T09:08:31+08:00131.16412567125485
2026-01-16T09:22:10+08:00131.71964693537436
2026-01-16T10:21:51+08:00132.79556817480403
2026-01-16T10:21:57+08:00133.6385408308129
2026-01-16T10:22:04+08:00133.59206221838159
2026-01-16T10:23:23+08:00137.43750385778657
2026-01-16T11:25:46+08:00137.71168446392198
2026-01-16T11:25:49+08:00138.04123202271464
2026-01-16T11:25:52+08:00137.95629899388928
2026-01-16T11:25:54+08:00141.32028887105733
2026-01-16T12:01:54+08:00141.63625702117153
2026-01-16T12:03:44+08:00142.1427689648787
2026-01-16T12:03:50+08:00142.3241775199062
2026-01-16T12:07:19+08:00146.4905870008024
2026-01-16T13:45:24+08:00146.78563051663477
2026-01-16T13:45:34+08:00147.1825813221406
2026-01-16T13:48:55+08:00147.1251157335967
2026-01-16T13:48:59+08:00149.28547620517253
2026-01-16T13:49:07+08:00150.02617122399852
2026-01-16T14:00:17+08:00150.66872415283007
2026-01-16T14:03:13+08:00151.83599777791494
2026-01-16T14:03:37+08:00152.32942410962286
2026-01-16T14:03:42+08:00152.4248503178816
2026-01-16T14:06:11+08:00158.29485834207765
2026-01-16T14:48:00+08:00158.9121041910993
2026-01-16T15:10:09+08:00159.43812110363558
2026-01-16T15:10:15+08:00160.29553731251158
2026-01-16T15:10:18+08:00160.40522189988272
2026-01-16T15:10:22+08:00165.34936115054626
2026-01-16T16:10:59+08:00166.20998703783718
2026-01-16T16:11:04+08:00174.28356274304056
2026-01-16T17:07:00+08:00175.2907227948892
2026-01-16T17:07:04+08:00179.5558916116289
2026-01-16T17:07:10+08:00180.79038330967225
2026-01-16T17:18:55+08:00245.90982038145793
2026-01-16T19:58:06+08:00246.8974137398926
2026-01-16T19:58:10+08:00248.40034565767544
2026-01-16T19:58:16+08:00253.8753163384976
2026-01-16T19:58:48+08:00255.02172705388557
2026-01-16T19:58:53+08:00259.4905870008024
2026-01-16T19:59:47+08:00262.1517190296895
2026-01-16T20:07:57+08:00263.0229615455836
2026-01-16T20:08:02+08:00267.9979630886982
2026-01-16T22:00:33+08:00268.6273686809456
2026-01-16T22:00:41+08:00272.18887722980065
2026-01-16T22:05:03+08:00272.44842910931425
2026-01-16T23:58:45+08:00275.56552064687367
2026-01-17T13:12:04+08:00276.735633602864
2026-01-17T13:12:14+08:00276.735633602864
2026-01-17T13:12:19+08:00280.1139435837294
2026-01-17T13:12:25+08:00297.06351459786435
2026-01-17T13:12:36+08:00297.8672921424603
2026-01-17T13:12:43+08:00300.43503487439045
2026-01-17T13:12:48+08:00301.02925745324364
2026-01-17T13:12:53+08:00303.9858650700574
2026-01-17T13:12:58+08:00304.61490031479536
2026-01-17T13:13:02+08:00306.52836244676257
2026-01-17T13:13:07+08:00306.95376828590827
2026-01-17T13:13:12+08:00309.34868218011235
2026-01-17T13:13:16+08:00309.54564533053514
2026-01-17T13:13:21+08:00312.39732115301524
2026-01-17T15:15:09+08:00315.90327757545833
2026-01-17T15:15:47+08:00316.6853897907537
2026-01-17T15:15:54+08:00319.4691685698414
2026-01-17T15:16:03+08:00319.88229121659157
2026-01-17T15:16:08+08:00322.57965557681626
2026-01-17T18:13:55+08:00323.7515585457688
2026-01-17T18:14:00+08:00325.837849515462
2026-01-17T18:14:05+08:00326.2562804765138
2026-01-17T18:14:10+08:00329.367199555583
2026-01-17T18:14:28+08:00330.6658230973397
2026-01-17T18:14:33+08:00334.22733164619467
2026-01-17T21:35:04+08:00334.5352138756867
2026-01-17T21:35:09+08:00336.8313684340473
2026-01-17T21:35:14+08:00337.42966483550396
2026-01-17T21:35:18+08:00340.05295969384605
2026-01-17T21:35:23+08:00340.4550336398988
2026-01-17T21:35:27+08:00342.81291278316155
2026-01-17T22:17:07+08:00343.1678908709339
2026-01-17T22:17:12+08:00344.89000678970433
2026-01-18T10:08:28+08:00347.7088451330165
2026-01-18T10:09:15+08:00368.23226961298684
2026-01-18T12:52:13+08:00368.83383741744336
2026-01-18T12:52:18+08:00372.839762977594
2026-01-18T12:52:26+08:00373.29745077464355
2026-01-18T12:52:30+08:00378.2847972347386
2026-01-18T16:53:35+08:00379.0734522560336
2026-01-18T16:53:39+08:00383.37565582371457
2026-01-18T16:53:43+08:00384.08413060922163
2026-01-18T16:53:48+08:00388.8863033146102
2026-01-18T16:53:52+08:00389.5587926671193
2026-01-18T16:53:56+08:00394.38565520646875
2026-01-18T16:54:11+08:00395.4379359298809
2026-01-18T16:54:15+08:00400.740077772977
2026-01-18T22:46:56+08:00401.5297203876304
2026-01-18T22:47:00+08:00402.2970804271341
2026-01-18T22:47:05+08:00403.8044565150299
2026-01-18T22:47:10+08:00406.0825874945991
2026-01-18T22:47:14+08:00408.25257700141964
2026-01-18T22:47:17+08:00410.00685142892416
2026-01-18T22:48:26+08:00416.54348497006356
2026-01-18T22:48:30+08:00422.20362940559227
2026-01-18T22:48:33+08:00430.7277945805815
2026-01-18T22:48:37+08:00439.0174063329424
2026-01-18T22:48:42+08:00450.3623850379606
2026-01-18T22:48:47+08:00464.4664526881057
2026-01-19T08:37:11+08:00466.5820628356274
2026-01-19T08:37:15+08:00478.011974569471
2026-01-19T08:37:34+08:00562.2968952533794
2026-01-19T08:37:41+08:00562.2968952533794
2026-01-19T09:13:25+08:00567.6934757113759
2026-01-19T09:13:33+08:00606.9996913770755
2026-01-19T09:13:39+08:00611.9376581692488
2026-01-19T09:14:26+08:00626.8978458119869
2026-01-19T10:04:06+08:00627.9780260477748
2026-01-19T10:04:11+08:00633.1641873958398
2026-01-19T10:05:17+08:00727.4546632923893
2026-01-19T11:54:57+08:00728.7142768964878
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
0.61
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
0.71
This model does not support allocation strategy adjustment

Actual vs Predicted Comparison

Using the actual oversubscription ratio 1149.76x and current allocation strategy (Pool A α=0.615, Pool B α=0.715) as the baseline, comparing actual vs predicted expected allotment lots per tier

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

LogoLongcheer 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
728.7x
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
0.61

Pool B

Oversubscription
728.7x
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
0.71
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 Longcheer (09611): 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.

Disclaimer

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