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How to get started investing in new issues and IPOs

Interested in investing in IPOs (initial public offerings) or new issues in New Zealand and Australia? We'll tell you what's available and help you through the process.

01

How to find out about new issues and IPOs

Simply email us at asbsecinfo@asb.co.nz to join our email subscription list and you’ll be the first to know when we’re providing access to a new issue or IPO.

If you don’t wish to subscribe to receive our email, we also regularly update our website with information on specific offers, so you can still stay well informed.

02

What to do if you’re interested in a specific offer

Once a new issue or initial public offer (IPO) is announced, there’s usually a period where you can find out more about the offer and register your interest.

If you are currently subscribed to our new issues email:

You'll automatically be sent details and offer documents for any new issues or IPOs we are providing access to. It's worth noting that restrictions can sometimes apply to new offers, making certain investors ineligible to participate (often this is related to country of residence). If our current records show that you are ineligible for a particular new offer, we may not send you details about it.

If you aren't signed up to our new issues email subscription list:

You can email us and request to receive more information about an offer. Asking for more information doesn't mean you are making any commitment to invest. It will just put your name on the list to receive the offer documents when they're available to the public.

Please note:

To be able to register to receive more information about an offer, you must have an open ASB share trading account.

03

Read the offer documents and do your research

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  • Once you have received the relevant documents about the offer - also known as the offer documents - it’s important you read them thoroughly.
  • These legal documents should help you decide whether or not you want to invest in the offer.
  • You may also wish to do your own independent research into the offer to help make up your mind.
  • ASB Securities will not take an interest level from you before you’ve read and understood the contents of the offer documents.

04

Confirming you want to go ahead

Once you’ve read and understood the contents of all the offer documents, and decided that you wish to proceed, you’ll need to contact us by the offer deadline we’ve given you, to confirm that you want to participate.

When you decide you would like to buy securities in a specific IPO or new issue, you’ll then need to confirm your level of interest. This is simply the amount of money you want to invest in the offer.

We must speak with you to personally confirm the following:

  • That you fully understand the process for participating in the offer.
  • Your level of interest in the offer.
  • Your eligibility to participate in the offer.
  • That your level of interest meets the minimum requirements of the offer.

Following this conversation, you will have provided us with 'firm interest'. We will then use this information to bid for an allocation on the offer.

Remember:

At this stage ASB Securities isn't under an obligation to fill your application, as we won't yet know the overall level of interest (potential demand) in the offer, or the allocation that we may receive from the issuer.

05

Managing your bid and buying your shares

  • We will then take all of the firm interest received from our clients and bid for an allocation on their behalf with the lead broker.
  • Depending on the overall demand from investors, the lead broker may scale the bid. (Scaling is where we get a lower total allocation of shares than we bid for, so you may receive less than you have requested).
  • Once the allocation of shares is confirmed, we will advise you of your individual allocation.
  • If, at any time prior to completion, you withdraw your confirmed interest from the offer, this may have future implications for you purchasing into other IPOs with ASB Securities.
  • There will be a deadline for you to provide funds to complete your purchase and return your completed application form to us. In some cases application forms are not required for an offer, instead you will receive a Contract Note from ASB Securities confirming your allocation.
  • Once we've processed payment for your allocation or, when applicable, your application form has been lodged with the share registry, you will not be able to withdraw from the offer.

06

What happens next?

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Once you’ve successfully received an allocation and completed your purchase, the securities are yours.

Next steps

Join now

Ready to join ASB Securities?

Join online

Subscribe

To join our IPOs and new issues subscriber list, email us.

asbsecinfo@asb.co.nz

Call us

Our helpful team is available Monday to Friday, 7am to 6pm.

0800 272 732

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ASB Securities Limited is a NZX Firm. ASB Securities terms and conditions apply. The above information is a guide only and should not be relied on as it does not take into account your personal financial situation.

ASB Securities How to get started investing in new issues and IPOs