Coinbase Lets Retail Investors Buy IPO Shares Directly
Coinbase has opened up its IPO access to retail investors in the US, starting with Oura's smart-ring maker IPO. Oura is seeking a fully diluted valuation of about $15.6 billion through the sale of 50 million shares at $40 to $44 each.
The deal marks Coinbase's entry into the IPO market and its role in distributing newly issued shares to retail customers. This expansion goes beyond providing a place for trading stocks after they list, as it gives Coinbase a new distribution channel for multibillion-dollar equity offerings.
Customers can request IPO shares through the Coinbase app at the offering price, but this does not guarantee an allocation. The company has set up a Conditional Offer to Buy system, where customers must fund their accounts before submitting a request. If the final IPO price moves above a specified limit, customers may need to resubmit their request.