A new trading platform in Hong Kong is dangling $200 worth of Facebook stock, or a little more than five shares at the initial public offering price of $38 apiece, as incentive to trade via its platform.
TechCrunch reported that 8 Securities will run its promotion as follows: Users must open investing accounts with a minimum amount of HK$10,000 ($1,287.69), and 8 Securities will then purchase stock in the social network on the open market and deposit it into users’ accounts. Chief Executive Officer Mikaal Abdulla told TechCrunch:
Once a customer’s account is opened, we will purchase the stock on a rolling and daily basis. The customer need not worry, as we will always purchase at least $200 of stock and round up for them.
Abdulla told TechCrunch Apple, Google, and Sina have been the most active stocks on the 8 Securities platform so far, adding, “I am certain Facebook will take the top spot today.”
Abdulla added in a press release:
The brokerage industry in Hong Kong has experienced very little innovation in the past decade. We know customers want and expect more. We take pride in doing things differently. While our competitors choose to spend expensive advertising on television and on the side of buses, we prefer to pass that value directly to our customers. This philosophy motivates us to always stay one step ahead for the benefit of our customers.
Readers: Can you think of any other ways Facebook stock can be used as incentives in promotions?