Hi Rumchuck,
In an unreal world that is what should happen. I am sure BP would sooner upset non-clients than clients. By being appointed lead broker, it is up to them to do the best for the IPO company as that who is paying them. By farming it out to clients, they know who they are dealing with and have better control over the float.
There have been plenty of floats I have missed out on, but if you know how it works you just accept it.
