Initial Public Offerings
ASW clients are welcome to participate in new issue offerings, including initial public offerings (IPOs) as well as follow-on and secondary offerings.
We have established relationships with Barclays, JP Morgan, Kohlberg Kravis Roberts & Co. (KKR), the Bank of America and other underwriters to offer access to new issue equity offerings.
We are able to provide access to a broad range of IPOs, thanks to our relationships with investment banks that underwrite IPOs and allocate some shares to ASW.
The lead underwriters allocate the vast majority of IPO shares to institutional investors, like pension funds and mutual funds. Only a small percentage of any IPO is allocated to retail investors. ASW acquires shares through investment banks participating in the offering and makes these shares available to eligible customers who request to participate in the offering.
Some IPOs have high demand. A predetermined algorithm allocates shares to eligible customers based on a number of factors, so you may not always receive the number of shares you request.
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