Where an invitation involves a public subscription tranche, the following rules apply to allocation and allotment of securities in this tranche:—
(1) The basis of allocation and allotment to investors must be fair and equitable.
(2) The balloting procedures must be clearly spelt out and strictly adhered to. Unsuccessful applicants must be notified, and the application money must be returned, within 24 hours of the balloting.
(3) In respect of applications which have been balloted but subsequently rejected, the reasons for rejection must be clearly stated.
(4) In respect of applications which have been partially successful, the balance of the application money must be refunded in the shortest possible time.