What are the regulations on these things.
Are the funds paid for IPO'S kept in a "trust account" or can they be used by the institution even "if " you do not get the number of shares applied for?.
IE Hold your monies for a couple of weeks, interest free, then say say sorry.
As you can tell I have little experience with ipo's .
Can anyone give me a reference as to the rules of these things.
sun prospectus out, page-23
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