HK IPO Fee & Allotment Calculator

Work out exactly what a Hong Kong IPO subscription costs, and what it could make, for a whole batch of IPOs at once. You supply the terms (offer price, board lot, your margin and broker fees, allotment odds). The Actor returns:

• the one-lot entry fee, accurate to the cent;
• the amount payable for all lots applied;
• financed amount, own cash and margin interest;
• the cost you pay even if you are not allotted;
• the break-even sell price;
• P&L and expected value for each first-day scenario.

There is no scraping and no network access: it is pure arithmetic on your input. That makes it fast (one run handles thousands of rows in seconds), cheap and private.

Why use it

• Exact fees. Application money + 1% brokerage + 0.0027% SFC transaction levy + 0.00015% AFRC transaction levy + 0.00565% HKEX trading fee, each rounded to the cent, as in a prospectus "amount payable" table. Selling costs include 0.1% stamp duty rounded up to HK$1, levies, the trading fee and your broker's commission and platform fee.
• Margin (IPO financing) maths. Give a margin multiple (10 = 10x) or a financed percentage, your annual rate and the number of interest days.
• Allotment expected value. Give the probability directly, or the valid applications and successful applicants counts from the allotment results announcement.
• One engine everywhere. The same fee engine powers hk-ipo-calc.pages.dev, the HK IPO Ledger Chrome extension and the HK IPO Fee & Listings API on RapidAPI. It is cross-checked against 600+ test vectors.

Input

Use the IPOs (JSON list), the CSV box, or both. Broker defaults apply to every row unless the row sets its own value. Percentages are entered as percent: 3.5 means 3.5%.

Field	Required	Meaning
price	yes	Offer price in HK$
lot	yes	Shares per board lot
name, code		Your labels, copied to the output
lotsApplied		Lots applied for (default 1)
marginMultiple or marginRatioPct		10 = 10x margin; or the financed share in % (90 = 90%)
annualRatePct, days		Margin interest rate (% p.a.) and interest days
handlingFee, financingFee		Broker's per-application fees in HK$
allottedLots		Lots you assume you receive (default 1)
allotProbabilityPct or validApps + successfulApps		Allotment odds, needed for expected value
scenarios		First-day moves in %, e.g. "-20,-10,0,10,20,50,100" (the default)
commissionRatePct, minCommission, platformFee		Your broker's selling charges

Example:

{
  "ipos": [
    {"name": "Cash, 1 lot", "price": 8.88, "lot": 500, "allotProbabilityPct": 30},
    {"name": "10x margin", "price": 25.5, "lot": 200, "lotsApplied": 50, "marginMultiple": 10, "annualRatePct": 3.5, "days": 7, "handlingFee": 100, "validApps": 120000, "successfulApps": 18000}
  ],
  "defaults": {"commissionRatePct": 0.03, "minCommission": 3, "platformFee": 15}
}

Output

One dataset item per valid row. The Overview, Scenarios (one line per scenario) and Fee breakdown views are ready to export as Excel, CSV or JSON. Key fields: entryFee, entryFeeBreakdown, appliedPayable, financed, ownCash, interest, fixedCost, totalCostIfAllotted, breakEvenPrice, breakEvenPct, allotProbability, expectedValueAtFlat, scenarios[] (changePct, sellPrice, pnlIfAllotted, pnlIfNotAllotted, expectedValue).

Invalid rows (for example a missing price) are listed with the reason in the run's OUTPUT record (Storage → Key-value store) and are not charged.

Pricing

Pay per result: $0.30 per 1,000 IPO plans (one plan = one dataset item), plus Apify's standard Actor start event ($0.00005 per run). A run with 20 IPOs costs about $0.006. You can set a maximum cost per run; the Actor stops when it is reached.

Use cases

• Compare this week's IPOs on cash and on 10x margin before you subscribe.
• Re-run with the real allotment results to see each IPO's actual expected value and break-even price.
• Feed a newsletter, spreadsheet, bot or AI agent (works through the Apify API and Apify's MCP server).

Limitations and disclaimer

• The Actor does not fetch IPO terms. HKEX and HKEXnews content may not be scraped or redistributed without HKEX's written permission, so you enter the terms from the prospectus and announcements yourself.
• The break-even price is theoretical; round it up to a valid tick. Broker fee schedules vary, so enter yours.
• Arithmetic only. Not investment advice. Not affiliated with Hong Kong Exchanges and Clearing Limited.

Questions or bugs: use the Issues tab, or email ztz1024666@gmail.com.