Coinbase opens IPO allocations to US customers, starting with Oura
Coinbase opened access to IPO allocations for eligible U.S. retail customers, starting with Oura’s offering this week. The product lets customers request shares at the offering price before public trading begins, but allocations are not guaranteed. Coinbase said the move extends its equities business from listed-stock trading into primary-market share distribution, and Oura is seeking to sell 50 million shares at an expected $40 to $44 each.
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Eligible U.S. retail customers are the group that sees this first, because Coinbase has opened IPO allocations for them and started with Oura. That means some users can now request shares in a primary offering through Coinbase rather than only trade listed stocks there, though the allocation itself is not guaranteed.
In practice, the change is that Coinbase’s equities offering now includes primary-market share distribution alongside its listed-stock business. What remains the same is that customers only can request shares at the offering price, and the service does not promise that every request will receive an allocation. (per decrypt.co)
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Has this happened before?
Nothing comparable yet.