Hong KongÆs first online IPO seen as a success

The recent MTR issue has gone down well not only with the public, but also with the banks whose online IPO platforms attracted more users than expected.

Elton Cane

October 06, 2000

After the fiasco of last year’s tom.com IPO, which saw massive lines, short tempers and queue jumping liven up the application process, the latest blockbuster issue for Hong Kong’s retail investors – the Mass Transit Railway Corporation (MTR) – has gone much smoother, thanks in part to the large number of choices for submitting the applications and handling payments online, at any time of day or night.

All but one of the five receiving banks offered online IPO applications for the MTR issue as well as distributing the forms through their branches. HSBC, Standard Chartered, Hang Seng Bank and Bank of China were joined by other local banks such as DaoHeng and Bank of East Asia, who have also added online IPO application services to their websites.

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