The First Step In Investing In US & HK Stocks Starts With IPO shares subscription

Tiger Brokers is the pioneer of US IPO shares subscription, 0 fee subscription;

Maximum 20X leverage on HK IPO shares subscription

What is US IPO shares subscription?

Traditionally, IPO shares subscriptions were only available to institutions and selective high net worth individuals. Tiger Brokers launched the revolutionary IPO shares subscription services that lowered the investment requirement from millions of USD to an affordable level for many retail investors. By participating as a member of the underwriting group or selling group, Tiger Brokers distributes the IPO shares to its clients after settling with the listing company.

80+

US IPO shares subscription provided by Tiger Brokers, accumulatively

53%

Exclusive to Tiger Brokers

Data derived from company operating statics as of June 2021.

Historical returns from subscribing in US IPO shares

From the year 2021, Tiger Brokers provides for 19 of US IPO shares subscriptions

41.15%

Average gains on the first day of trading

268.89%

Maximum gains on the first day of trading

24884RMB

Accumulative return from 19 US IPO subscriptions

*Data from company operating statistics and public market information as of June 30, 2021 Past earnings are not indicative of future performance and this material does not constitute any investment advice.

Selected first day returns of IPO shares

RAAS

200.00%

DDL

62.84%

BZ

95.79%

DDL

62.84%

ADAG

57.84%

ZME

47.74%

RERE

22.93%

TUYA

0.48%

YMM

-2.33%

KUKE

1.00%

View More

*Data from public market information

Six reasons to choose Tiger Brokers for IPO shares subscription

No-fee, frequent opportunities

No subscription fee, Tiger Brokers covers all the popular US IPO suscriptions

Underwriter, sizable share allotment

Participating in IPO as an underwriter comes with advantages in IPO shares allotment

A best for all system results in greater IPO shares allocation for individual clients

Best for all system + Proportional Allocation, highest allocation/subscription rate

Minimum locked-up amount, more efficient use of funds

Less locked-up funds for omnibus accounts. Locked-up funds are released T+0 if not allocated.

No need to transfer funds to a separate account when subscribing for IPO shares, a more seamless process

Trading and subscribing all in one account; never have to switch between different accounts

0 idle funds in the IPO shares subscription process

In between IPO subscriptions, transfer unemployed funds into "Idle Money Manager" to receive interests

Operation Guide

1. Enter Tiger Trade App - Discovery - IPO Subscription - US Stocks

2. Click the "Subscribe" button on the corresponding stock information page

3. Check the box after reading the company prospectus and proceed to the next step

4. Check Part A of the compliance statement

5. Check Part B of the compliance statement and sign, then proceed to the next step

6. Click Subscribe Now

7. Select the subscription amount

8. Confirm the subscription

Frequently Ask Questions

What currencies can be used in subscribing in IPO shares? Do I have to subscribe in US dollars?

For margin accounts, you can subscribe with currencies other than US dollars if there is sufficient funds. But keep in mind that it may result in borrowing fees (borrowing US dollars from Tiger Brokers). If your positions are not closed on the first day of the allocation, interest will be charged. No interest will be charged in not allocated or that the positions are closed on the first day of allocation. For cash accounts, only US dollars can be used in IPO shares subscription. You can exchange for US dollars using other currencies on the app. The ending US dollar balance should meet the minimum subscription requirement.

What is the minimum subscription amount to participate in IPO subscriptions?

Under most circumstances, the minimum required subscription amount for US listings is 100 shares. However, different companies can have different minimum requirements. You do not need to increase in multiples on top of the minimum amount, e.g. 105 shares, 120 shares, and 150 shares are all allowed. If, however, the margin in the subscriber's account is not sufficient to cover the amount filed, the subscription will be automatically reduced to the amount sufficient for margin. If the available funds in the account are not enough to cover the minimum subscription quantity, the subscription will be rejected.

What is the capital requirement for subscribing in IPO shares?

The IPO price range of the new listing will be announced upon the opening of IPO shares subscription. For omnibus accounts, the locked-up amount will be calculated using 80% of the bottom price range. The final allocation amount will not surpass the subscription amount. For instance: A subscriber subscribed for 100 shares of PDD and the IPO price ranges from 16-19 USD per share. Then the amount in lock-up will be 1,280 USD (16*80%*100 = 1,280 USD)
It should be noted that the margin associated with subscribing in IPO shares will be in lock-up to ensure successful delivery of new shares. Locked-up funds are not charges or prepayments. Funds cannot be used in other investment purposes during the lock-up period. If not allocated, the lock-up funds will automatically be released.

When does the lock-up period start?

Tiger Brokers omnibus account: Funds are in lock-up immediately after the subscription is confirmed.
Tiger global account: When subscription period ends, the subscription status should show "Confirmed".
Note: Under Tiger Brokers' global account, the funds used for subscription are not in lock-up before the subscription ends and can still be used for other investment purposes. However, after the subscription period ends, if there is not sufficient funds that satisfies the margin requirement, the subscription will be rejected.