Public application for the SIA bonds amounted to S$346 million, way more than the S$50 million that was originally allocated to the public. As a result, SIA decided to increase the public tranche size to S$150 million.
In meeting the demand, SIA decided to give everyone who applied an allocation. Demanding on the number of SIA bonds you applied for, you will get a prorated amount.
For example, all those who applied from $10,000 to $39,000 would be given $10,000 of SIA bonds.
The full SIA bond allocation details can be found here:
There is one exception though – those with invalid applications. This group of people will have their money fully refunded without any interest.
I know of a friend who applied for SIA bonds using a joint bank account/CDP account. It was mentioned somewhere in the 100+ page offering document that application to joint CDP accounts will have issues.
As a result, his money was fully refunded. My friend only found out when his money was fully refunded after the application date has closed and he realised what had gone wrong by checking the offer document.