A service fee that brokers charge for IPO applications. It is not an HKEX charge, differs by broker and is set out in the broker's notice. HKEX states that brokerage on securities transactions is freely negotiable between brokers and clients (since 1 April 2003) and lists the amount payable for IPO shares as five elements: application money, brokerage, SFC transaction levy, AFRC transaction levy and the Exchange trading fee; a broker's separate service fee is not among them. The subscription calculator on this site treats the fee as an adjustable input. Basis: HKEX transaction fees page.
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.
This page explains the HK IPO term "Subscription Handling Fee" 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.
