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IPO Coupon

The IPO Coupon is privileged coupon issued by Tiger Brokers used on specific underlying stocks when clients participating in IPO subscriptions in various markets, which separate into two main categories: HKPO coupon and USPO coupon. Only the clients with Omnibus Accounts can use the IPO coupon, and Tiger Brokers reserves the final right of interpretation.

Rules for claiming and using The IPO coupon: The coupon need to be claimed through [Tiger Trade APP>My>Activity Rewards]  within 20 days after their issuance; unclaimed coupons will automatically become invalid after the expiry date. The coupons are valid for 30 days after being claimed. Please refer to the IPO Subscription Page and Award Center for details.

 

HKPO Coupon

The introduction of HKPO Coupon Categories:

Category 1: HKPO Financing Coupon

The HKPO Financing Coupon is a privileged coupon used in specific Hong Kong IPO subscriptions. Tiger Brokers will reserve the financing quota when clients used HKPO Financing Coupon during the subscription period (Same IPO, first come, first served). The clients may be able to obtain high financing leverage by using the HKPO Financing Coupon.

Please note that only the clients with Omnibus Accounts - Margin Accounts can use the HKPO Financing Coupon, and only one HKPO Financing Coupon can be used for one single subscription, but can be used in conjunction with the HKPO Fee Reduction Coupon hereinafter described. After the subscription period, the successfully used HKPO Financing Coupon will be written off. You can check the details at [Tiger Trade APP>Trading>IPO>Subscription History] after the allotment result is announced.

 

Category 2: HKPO Zero-Margin Financing Coupon

The HKPO Zero-Margin Financing Coupon is a privileged coupon supporting zero margin participation in specific Hong Kong IPO subscriptions. In case of a market quota deficiency, the quota for a zero-margin financing subscription will be allocated on a "same IPO, first-come, first-served" basis. If the clients use the HKPO Zero-Margin Financing Coupon to subscribe and win the lot, the clients need to make up the required funds, corresponding commission, etc. If the Risk Control Value of the client's account is less than zero, it may trigger a forced liquidation. The Risk Control Value and Risk Control Rules related to the forced liquidation can be viewed through [Tiger Trade APP>Trading>Risk Control Value]. Please ensure sufficient funds in your account during the subscription once using the HKPO Zero-Margin Financing Coupon.

Please note that only the clients with Omnibus Accounts - Margin Accounts can use the HKPO Zero-Margin Financing Coupon, and there is an upper limit to the financing amount limit in a single IPO, please refer to the coupon rules for more details. Only one HKPO Zero-Margin Financing Coupon can be used for one single subscription but can be used in conjunction with the HKPO Fee Reduction Coupon hereinafter described. After the subscription period, the successfully used HKPO Zero-Margin Financing Coupon will be written off. You can check the details at [Tiger Trade APP>Trading>IPO>Subscription History] after the allotment result is announced.

 

Category 3: HKPO Fee Reduction Coupon

The HKPO Fee Reduction Coupon is divided into the Handling Fee Reduction Coupon and the Financing Interest Reduction Coupon. They are privileged coupons that can reduce subscription handling fees or financing interest charges in specific Hong Kong IPO subscriptions. The actual deduction amount is based on the coupon value, but if the actual amount to be paid is lower than the coupon value, the deduction amount is the actual amount to be paid.

Please note that only one HKPO Fee Reduction Coupon can be used for one single subscription. The Handling Fee Reduction Coupon and the Financing Interest Reduction Coupon cannot be used at the same time. Yet, the HKPO Fee Reduction Coupon can be used in conjunction with the aforesaid HKPO Financing Coupon or the HKPO Zero-Margin Financing Coupon. After the subscription period, the successfully used HKPO Fee Reduction Coupon will be written off. You can check the details at [Tiger Trade APP>Trading>IPO>Subscription History] after the allotment result is announced.

[Example]

①A client participates in an HK IPO of company A through cash subscription, with a subscription handling fee of 50 HKD. If the client uses a Handling Fee Reduction Coupon worth 60 HKD in the subscription, the client does not need to pay the handling fee for this subscription.

②A client participates in an HK IPO of company A through financing subscription, with the subscription financing interest rate of 3.98%. If the client uses a Financing Interest Reduction Coupon with a discount rate of 1% and an upper limit of 100 HKD in the subscription, then the financing interest deduction amount is the smaller on of financing amount*1% and 100HKD.

Note: The above examples are for reference only. Please refer to the actual situation of the account for the deduction amount.

 

USPO Coupon

The introduction of USPO Coupon Categories:

Category 1: USPO Shs+ Coupon

The USPO Shs+ Coupon is a privileged coupon used to obtain additional shares allotment in specific US IPO subscriptions. Once you successfully use the USPO Shs+ Coupon, you will obtain additional shares allotment, and the exact amount is subject to the displayed page when using the coupon.

Please note that only one USPO Shs+ Coupon can be used for one single subscription, and it cannot be used in conjunction with the USPO Minimum Shares Coupon at the same time. After the subscription period, the successfully used HKPO Fee Reduction Coupon will be written off. You can check the details at [Tiger Trade APP>Trading>IPO>Subscription History] after the allotment result is announced.

[Example]

The client participates in a US IPO of company B. Assuming that the client subscribes for 100 shares, or the client subscribes for more than 100 shares, but his/her available funds are only sufficient for 100 shares, in either case, the maximum number of shares of Company B that the client can be allotted is 100 shares.

Assuming that the client can be allocated 90 shares without using the USPO Shs+ Coupon based on the allocation rules (detailed allocation rules can be viewed at New Shares Subscription - Help - Tiger Brokers) ,

①If the client successfully uses a "+5 share" USPO Shs+ Coupon, the client will be allocated 95 shares (the allocated 90 shares + 5 additional shares);

②If the client successfully uses a "+20 share" USPO Shs+ Coupon, the client will be allocated 100 shares (the allocated 90 shares + 20 additional shares = 110 shares>= the upper limit of allotted 100 shares, therefore the number of allotted shares is the upper limit of 100 shares);

③If the client does not use the USPO Shs+ Coupon in the subscription, the client will be allocated 90 shares.

Note: The above examples are for reference only. Please refer to the actual situation of the account for the deduction amount.

 

Category 2: USPO Minimum Shares Coupon

The USPO Minimum Shares Coupon is a privileged coupon used to gain a certain number of allotted shares in specific US IPO subscriptions. If the client successfully use the USPO Minimum Shares Coupon, the client can get a certain number of allotted shares. The amount of allotted shares depends on the number of subscribers and the total amount Tiger Brokers obtains.

Please note that only one USPO Minimum Shares Coupon can be used for one single subscription, and it cannot be used in conjunction with the USPO Shs+ Coupon at the same time. After the subscription period, the successfully used HKPO Fee Reduction Coupon will be written off. The client can check the details at [Tiger Trade APP>Trading>IPO>Subscription History] after the allotment result is announced.

[Example]

The client participates in a US IPO of company B and subscribes for 100 shares. Assuming that according to the allocation rule, only the clients who subscribe for more than 300 shares can get allotted shares, this client can only get zero shares:

① If the client successfully uses a USPO Minimum Shares Coupon, the client's final subscription result is winning the lot, and the number of allotted shares is greater than or equal to 1;

② If the client does not use the USPO Minimum Shares Coupon, the client will not get the share.

Note: The above examples are for reference only. Please refer to the actual situation of the account for the allotment result.

*In case of any discrepancy between different language version, Chinese version shall prevail.

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