🌎 Initial Public Offering (IPO) investing

An Initial Public Offering, or IPO, is the process through which a company offers its shares to public investors for the first time before the shares begin regular trading on a stock exchange.

Eligible upcoming IPOs may appear in the Discover page. Select an IPO to view its anticipated listing date, estimated price range, offering information, company overview, and prospectus.

Open the IPO page, select IPO order, enter the USD amount you want to apply with, review the estimated price and number of shares, complete the required eligibility acknowledgement, and confirm your application.

These rules govern who may participate in certain IPO allocations. You must confirm that you have reviewed the information and that you are not considered a restricted person before submitting an IPO application.

No. The displayed range is only an estimate. The final offering price is determined closer to the listing and may be different from the initial range.

No. It is calculated using your application amount and the estimated price range. Your final number of shares depends on the final offering price and the allocation received.

No. An IPO application does not guarantee an allocation. You may receive all requested shares, part of the requested shares, or no shares.

It means your IPO application has been submitted, but the final price and number of allocated shares have not yet been confirmed.

You may modify the application amount while the order remains eligible for modification. Once the broker’s cutoff or allocation process begins, modification may no longer be available.

You may cancel while the cancellation window remains open. Once the order enters the final allocation process, cancellation may no longer be possible.

Only part of your application will be used to purchase the allocated shares. Any amount not used for the final allocation will be released back to your available cash balance.

No IPO shares will be added to your portfolio, and the amount reserved for the application will be released back to your available cash balance.

Allocated shares will appear after the final allocation has been confirmed and processed. Timing may vary depending on the IPO lifecycle and broker updates.

Normal trading becomes available after the IPO transitions to the secondary market and the asset is marked active and tradable.

Select the Prospectus section on the IPO detail page. The prospectus contains detailed information about the company, offering, business, and investment risks.