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Mutual Funds and Mutual Fund Investing - Fidelity Investments

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How IPOs are allocated: 5 questions you can answer using the preliminary prospectus

A typical split is 90/10 with only 10% of IPO shares going to individual investors, also known as retail clients.

Intermediate
Trading
IPOs

Trading
IPOs

Trading
IPOs

Trading
IPOs

Trading
IPOs

Trading
IPOs

There are a number of factors that determine how IPO shares are allocated. To gain a better understanding of how many shares may be available to retail clients, review the deal's preliminary prospectus, commonly referred to as the red herring.
Download infographic (PDF)

Research IPOs

View offerings, download a prospectus, or participate.

How to participate in an IPO

Understand IPO requirements and communications.

Investing in IPOs

Learn about the process, risks, and rules associated with IPOs.

Important legal information about the e-mail you will be sending. By using this service, you agree to input your real e-mail address and only send it to people you know. It is a violation of law in some jurisdictions to falsely identify yourself in an e-mail. All information you provide will be used by Fidelity solely for the purpose of sending the e-mail on your behalf.The subject line of the e-mail you send will be "Fidelity.com: "

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There are risks associated with investing in a public offering, including unproven management, and established companies that may have substantial debt. As such, they may not be appropriate for every investor. Customers should read the offering prospectus carefully, and make their own determination of whether an investment in the offering is consistent with their investment objectives, financial situation, and risk tolerance.

Eligibility for participation in traditional IPOs led by Kohlberg Kravis Roberts & Co. (KKR) is reserved for brokerage customers with a minimum of $100,000 in certain assets at Fidelity. Other providers of traditional IPOs, and other equity public offerings made through Fidelity may be reserved for brokerage customers with a minimum of $100,000 or $500,000 in certain assets at Fidelity. Auction Open IPOs and Secondary offerings made available through Fidelity are reserved for brokerage customers with a minimum of $100,000 in certain assets held at Fidelity. Members of Premium Services or customers who have placed 36 or more stock, fixed income, or option trades in a rolling 12-month period are eligible for either traditional or auction based offerings.

Any company names mentioned are provided for illustrative purposes only.

770575.2.1

Mutual Funds and Mutual Fund Investing - Fidelity Investments

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