US IPO Subscription

1. What is an IPO subscription?

A company's going public, also known as a company's initial public offering (IPO), refers to the company's initial offering of shares to the public at an estimated price range to raise capital from the public. Public investors who subscribed to IPOs may get an opportunity to buy the new stock at the actual offering price on the listing date.

2. How do I subscribe to US IPO?

The US IPO subscription service is provided for Sophisticated Investors by Moomoo Securities Malaysia Sdn Bhd (Moomoo MY). After we receive an allocation from the underwriter, we will re-allocate to eligible investors.

Sophisticated Investors can check the available IPOs via app > Accounts > IPO > US.

3. Can retail investors subscribe to US IPOs?

No. US IPO subscription service is only offered to Sophisticated Investors as defined under the Securities Commission Malaysia’s Guidelines on Categories of Sophisticated Investors.

4. When can I subscribe to US IPO?

The start time of an IPO subscription depends on the time of IPO roadshows arranged by the company as well as the underwriter, and it may vary for each stock. Please refer to the subscription details for the opening time.

The subscription time of an IPO may be uncertain and usually relatively short. It may start just 1-2 days before the IPO. If the IPO is over-subscribed, the underwriter may stop accepting subscriptions in advance, and investors won't be able to subscribe via Moomoo MY anymore.

5. What are the fees for US IPO subscription?

IPO Subscription Fees:

Transaction fees: please check Moomoo MY Fee Schedule.

6. What is the minimum quantity I can subscribe?

The minimum number of subscribed shares may vary, usually 20 or 50 shares, depending on the size of the new stock.

Please refer to the IPO subscription page for more details.

7. How can I cancel my US IPO subscription?

You may cancel your subscription before the expected deadline. Also, you can amend your subscription after canceling the initial subscription and re-submit the revised version. Please be aware of the expected deadline on the IPO subscription page.

You can check your subscription history via app > Accounts > IPO > US > History. Please click Cancel if you would like to make a cancellation.

8. How are allocations determined?

It is hard for individual investors to purchase US IPOs directly. However, they can get new shares via allocations, which are determined by underwriters and brokers. After brokers receive allocations, they will re-allocate shares to eligible investors. There is no uniform rule for allocations.

Moomoo MY adopts general allocation and weighted allocation strategies when re-allocating.

• General allocation: Moomoo MY tries to allocate shares to every eligible investor.

• Weighted allocation: Investors who subscribed for a greater quantity will be allocated more shares.

9. When can I get the allocation result?

Shares will usually be allocated on the listing date. Moomoo MY will re-allocate shares to investors once we receive the allocation from the underwriter and then announce the allocation results.

You can check your allocation result via the Subscription Record page or the system notification.

Note: After announcing the allocation results, Moomoo MY needs to do the final confirmation with the underwriter before opening trades for IPO shares. Please be aware there might be a delay.

9. When can I get the allocation result?

Shares will usually be allocated on the listing date. Moomoo MY will re-allocate shares to investors once we receive the allocation from the underwriter and then announce the allocation results.

You can check your allocation result via the Subscription Record page or the system notification.

Note: After announcing the allocation results, Moomoo MY needs to do the final confirmation with the underwriter before opening trades for IPO shares. Please be aware there might be a delay.

10. When will my funds get released if the allocated shares' dollar amount is less than the frozen amount?

The allocated shares' dollar amount will be debited from your Moomoo MY account on the allocation date. If the allocated shares' dollar amount is less than the frozen amount, the rest will be released. Please pay attention to your account assets.

11. How can I trade the US IPO shares?

Moomoo MY supports US IPO subscriptions and trades.

You can click app > Accounts to check your assets, including stocks and cash.

Note: After announcing the allocation results, Moomoo MY needs to do the final confirmation with the underwriter before opening trades for IPO shares. Please be aware there might be a delay.