The estimated price range, or indicative price, is given to potential investors to give them an idea of the final price they’ll pay for shares in an IPO. It’s set by both the company and the underwriter (more on how the IPO process works).

It’s not guaranteed that the final price will be in this range, it is only meant to be a guide.

The indicative price range can change if the underwriters (large banks that help companies IPO) determine that the value of each share should be increased or decreased. They go through an extensive process to do this - filing a document called a Form S-1.

If they update their indicative price before you can place a request for shares, we’ll only let you know if you’ve added an upcoming IPO to your watchlist.

If you placed an IPO share request, we'll let you know if there has been a change to the price range. We'll also update the info in Hatch with the latest information.

Note: when the final share price is set, it may fall outside the indicative price range. If it’s more than 20% outside the range, your request will be cancelled and you’ll get a short opportunity to place another one.

Learn more about IPOs

How does an IPO work?

How to speak IPO: A glossary

Are you IPO prepared?

What are the risks of investing in an IPO?

Placing and updating share requests

Is there a minimum IPO share request?

Is there a maximum IPO share request?

Am I guaranteed the amount I request during an IPO?

Can I cancel or update my IPO share request?

When will I know if my IPO share request was successful?

Why can’t I see my IPO shares or payment in my transaction history?

What happens if a final IPO share price is higher than the estimated range?

Why is the final IPO price different from the opening price when shares are listed?

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