The subscription and allocation results for the latest batch of Silver Bonds were released today, with 476,703 valid applications seeking a total of $119.3 billion in bond principals.

Of the applications received, 88,422 were for 12 units or fewer. These applicants will be allocated the full amounts they applied for.

The remaining 388,281 applications were for more than 12 units. These applicants will be allocated 12 units each, with 97,396 being allocated one additional unit following a ballot.

The bonds will be issued next Tuesday and the final issuance amount will be $55 billion.

Financial Secretary Paul Chan highlighted that both the number of applicants and the subscription amount for this round of bonds have reached new record highs, demonstrating that Silver Bond continues to be widely welcomed by senior citizens as a safe and steady investment option. 

The proceeds from this batch of bonds will be used on capital works projects for pushing ahead Hong Kong's infrastructure and urban development, as well as enhancing people's quality of life.