Data layers Raw facts Calculated Model prediction AI interpretation

Allotment Overview Calculated

Total Subscription Fees vs Public Offering Raise Amount

Subscription Tier Analysis Model prediction

Expected Lots Allotted by Subscription Tier

Pool A applications , Pool B applications . Expected lots allotted = "Approximate percentage of total shares applied for" as stated in the allotment announcement × shares applied ÷ lot size, taken directly from the announcement.

Capital Efficiency by Subscription Tier

Capital efficiency = Expected shares allotted ÷ shares applied × 100, i.e. the original "Approximate percentage of total shares applied for" value from the allotment announcement. The fewer shares applied for, the higher the capital efficiency.

Applicant Distribution by Subscription Tier

The vertical axis uses a logarithmic scale to better observe distribution differences across tiers of varying magnitudes. All four charts share the same x-axis; hover tooltips are synchronized.

Subscription Fee ÷ Allotted Market Value by Tier

Allotted market value = valid applicants × shares applied × (percentage applied for ÷ 100) × offer price; total handling fees = valid applicants × HKD 100; ratio = total fees ÷ allotted market value × 100%. Lower tiers have disproportionately high ratios due to very small allotments; ratios stabilize at higher tiers.

Allotment Results Subscription Tier List

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International Offering Raw facts

10.68
International oversubscription
121
Placee count
19
Cornerstone investors
102
Anchor investors

Cornerstone investors

Name Shares allotted % of global offering % of post-IPO shares Lock-up
中兴通讯(香港) 151,000 0.59% 0.06% 6 months
XN Mountain 914,700 3.60% 0.36% 6 months
Wind Sabre 1,076,100 4.23% 0.42% 6 months
UBS AM Singapore 538,000 2.12% 0.22% 6 months
华胜天成(香港) 228,200 0.90% 0.09% 6 months
Qin Wan 762,600 3.00% 0.31% 6 months
OCM 532,700 2.09% 0.21% 6 months
Ocean Fine Industrial 537,100 2.11% 0.21% 6 months
华泰场外掉期—衡信基金管理 1,129,900 4.44% 0.46% 6 months
第四范式 691,500 2.72% 0.28% 6 months
安擎国际 228,800 0.90% 0.09% 6 months
Duckling Fund 1,076,100 4.23% 0.42% 6 months
DeepRoot Alpha 215,200 0.85% 0.08% 6 months
汇添富(香港) 1,076,100 4.23% 0.42% 6 months
China Orient EIF 376,600 1.48% 0.15% 6 months
China Orient MSMF 161,400 0.63% 0.06% 6 months
华夏基金(香港) 322,800 1.27% 0.13% 6 months
芯鑫控股 114,400 0.45% 0.05% 6 months
明山资本 807,100 3.17% 0.33% 6 months

International concentration

Rank % of international placing % of global offering
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AI AI Analysis AI interpretation deepseek-v4-flash-ga-260731 · AI-generated
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The following content is generated by an AI model based on historical IPO data. It does NOT constitute investment advice, solicitation, or recommendation. Past subscription patterns and post-listing performance do not guarantee future results. Data may contain inaccuracies — always verify against official HKEX filings and prospectuses before making any investment decision.

Market Sentiment

The public offer was oversubscribed 414.24 times, a strong retail heat signal, while the international placing was oversubscribed a more modest 10.68 times. 12.42% of valid applications were allotted, and the offer price was HK$144.60, with source data showing identical lower and upper price limits so no range-based discount or premium can be inferred. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Tier Analysis

The tier data shows a sharp discontinuity: applicants at the A-tier tail (30,000 shares) were expected to receive 0.0859 lot, while B-tier head applicants (40,000 shares) were expected to receive 0.3001 lot, so the 33% increase in application size roughly triples expected allocation. This suggests an inefficient tier boundary at the 甲尾/乙头 cutoff, but broker fee efficiency across tiers cannot be compared because fee data is not provided in the source data and broker fee structures vary. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Demographics

The source data reports a mainland China participation rate of 0% and a Hong Kong participation rate of 0%, while total holders is also 0, which suggests the demographic fields were not populated rather than indicating real zero participation. No gender, age, or provincial breakdown is provided, and this is a single IPO with CCASS coverage caveats. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

About this page

This page shows allotment analysis for Iluvatar Corex (09903): one-lot hit rate, Pool A/B allotment distribution, oversubscription multiple, and grey-market and first-day performance. Data is parsed from the HKEX allotment results announcement. How allotment rates and clawback work is explained in How Hong Kong IPO Allotment Rates Work.

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