Enthusiasm for the share lottery of Han Ce, the highest-priced stock on Taiwan's emerging stock board, has cooled slightly — good news for retail investors willing to try their luck, as the chance of drawing an allocation has improved.

• Han Ce attracted more than 140,000 subscription applications on the first day, with only 100,000 more added on the second day, a modest drop in interest.
• Winning a single lot brings an immediate gain of about NT$3 million, as the market price is nearly NT$3,000 higher than the underwriting price.
• Over the two days, NT$548.1 billion in market funds has been frozen, meaning a large amount of cash is temporarily tied up at banks.
• Only 1,048 lots have been released for public subscription this time, giving a winning rate of just 0.33% — roughly one in every three hundred applicants.
• The competitive auction portion has been fully sold, with an average winning bid far above the underwriting price, showing that institutional investors also competed fiercely.

Outlook: Today is the final day of subscription, and total applications are expected to exceed 320,000. Han Ce's share price after its listing in late September will be a focal point for the market.