The mix-up which marred the Mass Transit Railway Corporation initial public offering (IPO) will not affect trading tomorrow and should not have a negative impact on share performance, according to Financial Secretary Donald Tsang Yam-kuen. However, he expressed his 'regret' at the way some aspects of the problem had been handled. '[The impact on its share price] will be determined by the market, of course, but I do not think [the mix up] will have a significant impact, given the small percentage [of the duplicated shares] and expedient remedies offered,' Mr Tsang said yesterday. 'I think the problems were dealt with properly and I am very glad that the trading on Monday will not be affected.' Duplicate certificates were sent to about 1,500 of the 610,000 investors. The confusion kept some shareholders from trading on the opening day on Thursday. Despite the hiccup, the MTRC's market debut has been hailed as a success. The shares initially soared to a high of HK$13 and, despite a fall in the afternoon, closed at HK$11.60. This meant a 30.63 per cent return from the HK$8.88 a share that small investors paid in the HK$9.08 billion offering. Investors who returned the duplicate certificates in person to Central Registration's Wan Chai office by Friday would be compensated with the HK$500 to cover 'travel expenses', the MTRC said, and would receive a new share certificate in exchange. Shareholders may also return the certificates by post or through their broker, but without compensation. Mr Tsang expressed his satisfaction with the IPO process and the performance of the MTRC shares on the first day. He said that the problems that occurred would be 'dealt with in a serious manner'. He said the Government would explore the possibility of paperless IPOs, which would lower the chance of similar mistakes in the future. He admitted that certain legal and psychological issues needed to be dealt with before a paperless IPO could be introduced. 'Some people still prefer to have the share certificate on hand . . . It gives them more confidence,' said Mr Tsang. However, he emphasised that it was important to improve on the IPO process. 'Given the task of an extremely large amount of shares to be issued and the very short period of time, chances are that similar mistakes would still happen, [if the current IPO procedure is maintained],' he said.