By South China Morning Post | Created at 2024-11-15 09:27:07 | Updated at 2024-11-15 11:44:28
2 hours ago
Hong Kong is raising HK$20 billion (US$2.7 billion) from its second batch of retail infrastructure bonds, giving residents another chance to take part in the city’s development.
The three-year bonds will pay half-yearly interest based on the average rate of the consumer price index over that period, with a guaranteed minimum payment of 3.5 per cent, according to a government statement on Friday.
“The retail infrastructure bond will provide citizens a safe and reliable investment option with steady returns, as well as a ‘sense of participation’ and a ‘sense of gain’ in support of infrastructure projects for Hong Kong’s long-term development,” Financial Secretary Paul Chan Mo-po said in the statement.
“This issuance will also further promote the development of the retail bond market and financial inclusiveness.”
Hong Kong identity card holders will be able to subscribe to a minimum of HK$10,000 and increments thereof at placing banks, securities brokers and the Hong Kong Securities Clearing Company from 9am on November 26 up to 2pm on December 6. The bonds will be issued on December 17 and listed on the Hong Kong stock exchange the next day.
The government may increase the bond’s size to a maximum of HK$25 billion, depending on the response.
