Saxo does not generally offer IPO subscriptions. In certain markets and specific cases, IPO access may be made available. When this happens, eligible clients are informed through relevant communications, and the IPO will be visible in the platform.
Availability is assessed on a case‑by‑case basis and may be limited or unavailable.
Access depends on factors such as:
- Distributor arrangements
- Regulatory and product‑governance requirements
- Client residency
- Account type
- Client classification
Not all IPOs will be visible or available in the platform.
Important information
This article provides operational guidance only.
It is not a solicitation or recommendation to subscribe, buy, or sell any security.
Any decision to subscribe must be based solely on the issuer’s approved prospectus and related offering documents, which are made available in the platform.
What is an IPO?
An initial public offering (IPO) is when a company offers its shares to the public for the first time and seeks admission to trading on a stock exchange.
For investment details, risks, and conditions, always refer to the issuer’s approved prospectus and related offering documents available in the platform.
How do I register for an IPO?
If an IPO is available to you:
- In the platform:
- SaxoTrader: go to Trading > IPOs
- SaxoInvestor: go to Markets > IPOs
- Select the relevant issuer.
- Review the approved prospectus and any related offering documents.
- If you choose to proceed, enter and confirm your subscription instruction in the IPO module.
- Ensure you have sufficient settled cash and meet the eligibility requirements.
You can usually amend or cancel your instruction until the deadline shown in the platform.
All IPO‑specific terms — such as the subscription period, offer price or price range, minimum and maximum subscription limits, quantity rules, cash reservation requirements, and expected listing details — are provided in the platform for each available offering. Always refer to the approved prospectus and related offering documents available in the platform.
How does IPO share allocation work?
- Share allocation (if any) is determined by the issuer and/or underwriters, in line with the prospectus and their allocation policies.
- Your final allocation may be lower than requested, or you may receive no allocation.
- Saxo does not influence allocation decisions.
Once allocation information is received, your final allocation (if any) will be shown in the platform.
When will I receive my shares?
If you receive an allocation:
- Shares are typically booked to your account on or after the settlement date set by the issuer or underwriters.
- Cash will be debited for the allocated amount.
- Any excess reserved funds will be released.
You can monitor allocation and settlement status in the platform.
When can I trade my shares?
You can trade your shares once:
- The shares have been admitted to trading by the exchange, and
- The shares have been booked into your account.
The first trading day and time are determined by the issuer and the exchange and are described in the approved prospectus and related offering documents.
Troubleshooting
- I can’t see the IPO section or a specific IPO: You may be ineligible due to residency, account type, or other criteria, or the IPO may not be available yet.
- The Enter subscription instruction button is greyed out: Check that you have sufficient settled cash, you’re using a supported account, and you’ve completed any required acknowledgments in the platform.
- My instruction isn’t showing after I confirmed: Refresh the page or log out and back in.
- I don’t see shares after allocation was announced: Shares are booked on or after the settlement date.
- I can’t trade the shares: Trading is available once the exchange has admitted the shares to trading and the shares are booked to your account.