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Airtasker IPO, page-87

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gemma

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19/03/21

16:41

Post #: 51903007
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Originally posted by Sheriff58: ↑

Gemma, let me give you a bit of a summary on how the IPO allocations work. You are not able to call simply Morgans and request stock in an IPO, I assume you do not already a client of Morgans, it doesn’t appear so by what you have said anyway.
Morgans have lots of different types of clients with a variety of goals and risk profiles. Some clients suit IPO’s, others don’t. If you have an account with morgans and a relationship with a broker who knows what you are looking to achieve, taking into account your goals, money you want to invest, tolerance to risk etc then they may decide you are suitable for upcoming IPO’s. Morgans advisers bid for stock that they believe they will be able to allocate to some of their clients whom the investment may suit. As others have said the bidding was scaled e.g. advisers got less than they asked for because demand was high. Then the adviser speaks to clients and allocates the shares to their portfolio’s if they are interested in it.If one client changes their mind then those shares would just be allocated to any number of clients who would be happy to take more shares. There is no situation where a client would change their mind, and then you would be contacted, not even being a client, and offered the shares in an IPO.
I hope this makes sense on how the process works.

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Thanks Sherrif.

I used to be a client of Morgans then I went to Ord Minnett.

Anyhow they didnt have any.

Thank you for the information.

I will just wait for the listing and jump in.
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