HK IPOAIHong Kong IPO intelligence

HK IPO knowledge base

Hong Kong IPO glossary and metric guide

Clear explanations for Hong Kong IPO terms, allotment rules and HK IPO AI model metrics, with links back to the tools where each concept appears.

Browse IPO terms Browse site metrics

Hong Kong IPO terms

Common terms used during Hong Kong IPO subscription, allocation, stabilization, grey market and listing stages.

15

One-lot win rateIn the market, one-lot win rate usually means the chance of receiving at least one lot after applying for one lot.Grey marketThe grey market is pre-listing trading of new shares through selected broker platforms before the official exchange listing.Margin subscriptionMargin subscription means applying for IPO shares with financing provided by a broker.Clawback mechanismThe clawback mechanism reallocates part of the international placing tranche to the public offer when public demand is strong.Public offer oversubscriptionPublic offer oversubscription measures how many times public investor demand exceeds the shares available in the public offer.

HK IPO AI metric guide

How to read the metrics shown on HK IPO AI pages, including their limits. They are not return or allocation guarantees.

13

P90 relative errorP90 relative error means about 90% of the comparable errors in the backtest set were at or below this level.Time-weighted relative errorTime-weighted relative error measures proportional deviation between predicted and official allotted lots, with more influence from recent listings and key tiers.Expected lotsExpected lots is the model-estimated average allocation. It is not a guaranteed number of lots.Reference ratingThe reference rating is an informational rating with three labels: high attention, neutral and cautious.Backtest hit rateBacktest hit rate is the share of historical samples where the model's direction call matched the actual result.