A Bond IPO (Initial Public Offering) is the first-time offering of a bond by an issuer to investors during the subscription period before the bond is issued. It provides investors with the opportunity to subscribe for the bond at the initial offering, before it begins trading in the secondary market.

We offer online subscription for a wide range of Bond IPOs, including Malaysian Bond IPO and selected foreign Bond IPO, subject to availability. 

You may log in to your FSMOne account and visit the Bond IPO center to view the latest available Bonds IPO open for subscription.

All FSMOne account holder can participate in Bond IPO subscriptions including Corporate accounts and Beneficiary account.

For Website:

You can subscribe IPO by click on Bond IPO Center.

For Apps:

You may tap on Trade >> Bond >> Apply Bond IPO.

Yes, there is a subscription fee of 0.35% + 0.8% SST. 

In addition, there will be platform fee charged based on the daily average market value of your bond holdings and is billed on a quarterly basis.

For more information regarding bond platform fee, you may refer here.

You may select either to make full payment or partial payment upon subscription by using your Cash account.

Full Payment :

• Pay the total payable amount upfront and get priority queuing and a higher chance of successful allotment

• Any excess fund ( from buffer or non-allotted amount ) will be automatically refunded back to your respective cash account on refund date.

• Your upfront payment continues to earn interest at prevailing cash account rates until the allotment date.

Partial payment :

• An upfront deposit will be earmarked upon subscription. The deposit amount may vary depending on the respective Bond IPO. The remaining balance is only payable upon successful allotment.

• Failure to pay the balance in full will resulted in the forfeiture of your 1% deposit and the cancellation of your entire allotment

• Any excess funds ( from non-allotted amounts ) will be automatically refunded back to your respective currency cash account on refund date.

• Earmarked deposits continue to earn interest at prevailing cash account rates until the payment due date.

Yes, you may cancel or amendments your order placement before the IPO subscription closing date.

You can check your Bond IPO application status and allocation results under Bond IPO Center >> Bond IPO Orders.

he timeline for respective Bond IPO will be different and you may refer on the timeline for the respective Bond IPO under Bond IPO Center by click on the respective Bond IPO.

For more explanation on the timeline, you may refer as below:

● Opening date :

The date when investors can start submitting the Bond IPO subscription.

● Closing date :

The subscription deadline for the Bond IPO.

● Allotment date:

1. For investors who opted for full payment:

No further action is required. If you are allotted, Your bond holdings will be reflected in allocated to your account on the bond settlement (issue) date.

2. For investors who opted for partial payment:

You must complete the remaining payment by the payment due date to confirm your allocation. If the outstanding payment is not received by the due date, your bond allocation will be cancelled, and your initial 1% deposit will be forfeited.

● Settlement date:

The date when Bond IPO units are officially issued listed and can be traded on the secondary bond market.

Bond IPO allotments are determined by the issuer and are subject to availability.

However, investors who opt for full payment will be given higher priority during the allotment process. Allotments will first be made to fully paid applications before any remaining bonds are allocated to investors who opted for partial payment.

The minimum number of Bond IPO nominal quantity you can apply for depends on the specific bond issued by the company. You are advised to refer to Bond IPO information page under the “Min. Investment Quantity (Nominal)” section for the exact details.

Typically, No fixed maximum limit on the nominal amount you can apply for, unless stated otherwise by the issuer. For more information, please refer to the respective Bond IPO subscription page or the official offering documents.

The balance of the unsuccessful Bond IPO allocation, including related fees and charges (if any), will be refunded to your respective currency cash account accordingly on the refund date.

Yes. Once your Bond IPO has been issued and credited to your holdings, it becomes the same bond that is traded in the secondary market. You may sell it before its maturity date, subject to market conditions and the availability of buyers. 

To place a sell order, log in to your account and navigate to Trade > Bonds > Sell.

You may click here to refer for more information.

The Limit Yield is the minimum yield (return before fees) that you are willing to accept for the bond.

During the Bond IPO, the issuer will determine the Final Yield. If the Final Yield is lower than the Limit Yield you specified, your application will not be eligible for allotment.

Example:

• You submit a Bond IPO application with a Limit Yield of 4.20%.

• After the subscription period, the issuer announces a Final Yield of 4.00%.

• Since 4.00% is lower than your minimum acceptable yield of 4.20%, your application will not be allotted.

On the other hand:

• You submit a Limit Yield of 4.00%.

• The issuer announces a Final Yield of 4.20%.

• Since the Final Yield meets or exceeds your Limit Yield, your application remains eligible for allotment (subject to the issuer's allotment process).

Note : A lower limit yield makes your bid more competitive, but does not guarantee allotment and remains subject to overall demand and the timing of your submissions.

Yes, You may set the Limit Yield percentage based on your own preference.

You may choose your allotment preference by selecting the options below :

All-or-Nothing

• Select this option if you are only willing to accept the full nominal amount you applied for. If the full amount cannot be allotted and only a partial allotment is available, your application will not receive any allocation.

Partial Allotment

• Select this option if you are willing to accept either a full or partial allotment. If only part of your requested nominal amount is available, you may still receive an allocation, provided that the allotted amount is not less than the bond's minimum investment amount.