Indicative advance calculator.

There is no secret in this tool, and no proprietary model behind it. It applies a fixed, published set of weightings to the factors you select, in the open, so that the reasoning is legible rather than hidden. What it deliberately does not do is turn those weightings into a loan-to-value figure.

1. 1Start from the collateral, not from a number. The calculation begins with the profile of a liquid, stable, large-cap HKEX position — the kind of collateral a lender can exit in an orderly way — and asks how far the position in front of it departs from that. It neither starts from nor arrives at a published ratio; the firm publishes no rate and no LTV band.
2. 2Weigh liquidity and free float. The thinner the free float and the larger the position relative to average daily traded value, the harder the collateral is to realise, and the lower the advance it can support. This is the single most consequential input.
3. 3Weigh volatility. A more volatile price warrants a wider haircut, so the verdict moves down as volatility rises.
4. 4Weigh sector. Stable, long-listed property and financial holdings sit at the more accommodating end; a pre-revenue Chapter 18A biotech or Chapter 18C specialist-technology name is financed far more conservatively, because a single milestone can re-rate it.
5. 5Weigh concentration. A controlling or founder block is, by definition, most of what is not free float, and its enforcement carries disclosure and Takeovers-Code consequences; concentration moves the verdict down.
6. 6Weigh recourse. A non-recourse structure prices above, and lends less against, a full-recourse one, so requiring non-recourse moves the verdict down; accepting recourse moves it up.

The tool then reports the weighted result as one of three qualitative positions — a lower, mid-range, or higher advance — and never as a ratio, a range, or an amount. That restraint is deliberate. Loan-to-value is a property of the collateral, not of the product: it belongs to a specific ticker, a specific free float, and a specific stake on a specific day, and no general heuristic can honestly put a figure on it in advance. What the tool can honestly show is direction — which of your factors help and which hurt — and that is what it shows. Every weighting is consistent with the drivers set out in Stock Loans and in which HKEX stocks can be pledged. A real indicative figure depends on the specific ticker and is confirmed only after a review of the actual holdings.

This page and its calculator are educational and do not constitute legal, regulatory, tax, or investment advice, nor an offer or solicitation. The verdict and the typical tenor are indicative and illustrative only. No loan-to-value figure, band, or grid is published, and no advance amount is quoted; loan-to-value follows the collateral, and any indicative terms are issued only after a review of the actual holdings. The calculator runs entirely in your browser and collects no data. Whether and how the SFO Part XV Disclosure of Interests regime, the SFC Codes on Takeovers and Mergers, or the HKEX Listing Rules apply to any transaction is a question for your own Hong Kong legal counsel, engaged in parallel with structuring. Hong Kong Stock Loans acts as an arranger and introducer in collaboration with SFC-licensed counterparties. See our editorial standards and full disclosures.

For a real indicative figure, begin with one message.