Participating in an IPO
You can participate in an IPO on Fidelity.com from the Initial Public Offerings (IPOs) Calendar. Follow our step-by-step guide to learn how to get involved.
1. Sign up for IPO Alerts (email or Active Trader Pro alert only).
2. Download and review the Prospectus for the offering.
You can access the Prospectus from the alert email or the IPO calendar.
3. Select Participate for the offering you'd like to participate in.
4. Select the account, choose Enter New Indication of Interest, and then Submit.
5. For the second time, select Participate for the offering you'd like to participate in.
6. Answer the Rule 5130 / 5131 qualification questions by choosing Yes or No.
7. Enter your indication of interest, which lets Fidelity know the maximum share quantity you're interested in buying.
- You can view and check the status of your indication of interest until the offering period has closed.
- You may increase or decrease the quantity until the offering period has closed.
8. Confirm your indication of interest on the night of pricing.
You must confirm your indication of interest after the registration statement has been declared effective and the offering has been priced (usually after 7:00 p.m. ET on the night of pricing). Confirming an indication changes your indication to an order to buy shares at the offer price.
- You can confirm or reduce your existing quantity, but you can't increase shares during confirmation.
- You must confirm your interest to remain eligible for an allocation of shares. This doesn't guarantee you will be allocated shares.
9. You will receive an alert once allocation has occurred. To check if you were allocated shares, go to Activity & OrdersLog In Required.
Allocation will occur on the morning following pricing and is usually complete before 9:30 a.m. ET. An alert will be sent once allocations are complete, and you can check the Activity and Orders tab of your account to determine if you were allocated any shares. Your account will be debited for the purchase if you receive an allocation.
