Mechanism A

HK IPO Term
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Definition
Standard offering mechanism under HKEX Practice Note 18. Initial allocation to the public offer tranche is 5% of the offering shares, with a clawback mechanism: at 15x to below 50x oversubscription, clawback to 15%; at 50x to below 100x, clawback to 25%; at 100x or above, clawback to 35%.
Category
Offering Mechanism

Basis

The links above lead to official sources such as HKEX and the SFC. The explanation on this site summarises them and may differ from the official definition; the official documents prevail.

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This page explains the HK IPO term "Mechanism A" and links to related terms. Definitions are compiled from HKEX Practice Note 18 and the Listing Rules, for understanding subscription rules only — not investment advice.

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