The 5th Non-competitive Tender for Exchange Fund Notes
The Hong Kong Monetary Authority (HKMA) announced today (Wednesday) that the 5th non-competitive tender for Exchange Fund Notes under the Pilot Scheme for promoting Exchange Fund Notes to the retail market will be held on 10 February 2004. Up to HK$120 million of 2-year Exchange Fund Notes will be offered to the public through non-competitive tender. Detailed information about the Notes will be confirmed and announced on 30 January 2004. Investors wishing to participate in the non-competitive tender can apply for the issue between 30 January 2004 and noon 6 February 2004 through the Retail Exchange Fund Notes Distributors (Distributors) appointed by the HKMA: Bank of East Asia, DBS Bank (HK), and Wing Lung Bank. The subscription price of the issue will be fixed and announced on 10 February 2004. Allotment will be made on 11 February 2004.
On 1 August 2003, the HKMA launched a 1-year Pilot Scheme (Scheme) for promoting Exchange Fund Notes in the retail market. Under the Scheme, a portion of each quarterly issue of 2-year and 3-year Notes will be made available for non-competitive tender by retail investors through the Distributors. In addition, the Distributors will adhere to a number of unified standards in the distribution of Exchange Fund Notes to retail investors in the secondary market.
Hong Kong Monetary Authority
21 January 2004