Be prepared - this is a very real possibility! But be assured that we work hard to carve out a slice for everyday Kiwis. Don’t let this news stop you from telling your friends - just make sure you all sign up to Hatch, add upcoming IPOs to your watchlists and place your share requests early.
Due to strict IPO laws, we’ll only email you updates (and let you know as soon as IPO share requests open) once you’ve added a company to your watchlist. IPOs can play out in one of three ways:
Share requests don’t exceed the number of shares on offer:
Everyone should get the exact number of shares they requested in the IPO (rounded down to the nearest full share). We’ll email you to let you know how many shares you received and the final IPO share price.
We get twice or three times as many requests as we have shares:
If the IPO is oversubscribed (more shares are requested than are available), you may receive some (but not) all the shares you requested. We’ll do our best to make sure everyone gets at least a portion of the amount they wanted. Our first IPO will work a little differently to how you’re used to investing with Hatch, so you’ll see the number of shares you receive and any leftover NZD will be refunded to your bank account within 5 business days.
We get too many requests:
We’ll close requests after 2-3 times our allocation has been requested, so anyone who hasn’t placed a request before this time won't be able to participate (sorry!). You can cancel your request in the lead up to the IPO, but once requests close, that’s it folks - so please get in early to avoid disappointment. Read more about cancelling your share request.