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Robinhood lets UK retail investors request shares in U.S. IPOs at the offer price
⚪NeutralAn equities product expansion for a crypto-friendly broker with no direct effect on any coin.News sentiment, not financial advice. It reflects the likely impact of this news, not a price prediction.
Summary
Robinhood has launched IPO Access in the UK, letting retail customers request shares in eligible U.S. initial public offerings at the offer price before trading begins, the company said Monday, according to The Block and Cointelegraph.
Requests go through customers' existing general investment accounts with no commission, and the app shows each listing's prospectus and SEC filings, both outlets reported.
Robinhood said it has taken part in more than 50 IPOs since launching the service in the U.S. in 2021, but Cointelegraph noted it did not say which upcoming IPOs UK investors could access.
The Block said the launch follows Robinhood's August rollout of crypto trading for eligible UK customers through Bitstamp.
Key facts
- The Block: Robinhood said it is working with a UK Public Offer Platform provider to give access to eligible IPOs.
- The Block: Robinhood UK President Jordan Sinclair said the goal is to give Britain's retail investors “access to the next generation of innovative public companies.”
- Cointelegraph: Robinhood did not identify which upcoming U.S. IPOs would be available to UK investors and did not respond to a request for clarification by publication.
- The Block: Robinhood warned that investing in IPOs involves significant risk and that share prices can be highly volatile shortly after listing.
- Cointelegraph: HOOD closed at $80.91 on Friday, up 3.2%, and traded at $79.50 premarket Monday.