iBond subscription

As expected the second issue of iBonds by the Hong Kong government was massively oversubscribed with 332,467 applications for a total of HKD49.8 billion. Even the maximum allocation of three or four units (HKD30,000 or HKD40,000) is de minimus - better than leaving money in the bank but so small as to be almost not worth bothering about. Disappointing but not unexpected.