The UK-based fintech, which provides individual investors early access to IPOs, partnered with European stock exchange Euronext to launch its service in France, per its press release. Retail investors typically can’t access IPOs before they start trading on the stock markets—less than a third of UK IPOs in 2020 included a retail offering. This is PrimaryBid’s second partnership, having first integrated with the London Stock Exchange (LSE) in 2019.
The expansion lets PrimaryBid recreate its UK success in France—and later across Europe. PrimaryBid has opened access to 140 IPOs in the UK, including for 12,000 retail investors in PensionBee and 70,000 in Deliveroo. PrimaryBid can now cater to eager French retail investors who have increasingly invested in listed shares throughout the pandemic, per its press release. PrimaryBid lets them buy shares potentially at a discount; share prices often surge after being listed on a market. The fintech could also expand its offering to the other European countries where Euronext operates, like the Netherlands.
Early access to IPOs is becoming the next must-have feature among retail investment platforms, but they should ensure users understand the potential dangers.
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