Coinbase Unveils IPO Access Feature for US Retail Customers with Oura as First Listing
Coinbase has expanded its services beyond cryptocurrency trading by launching an initial public offering (IPO) access feature for eligible US retail customers. This new service allows users to request shares at the IPO price before public trading begins, marking a significant step towards building 'The Everything Exchange', as described by Coinbase.
The first company to be offered through this new feature is Oura, a smart-ring maker that plans to list its common stock on the NASDAQ Global Select Market under the ticker OURA. The expected IPO price range for Oura is between USD 40 and USD 44 per share, with a total offering size of 50 million shares.
Coinbase's allocation system will favor customers who appear willing to hold their shares, discouraging short-term flipping and distributing shares to longer-term investors. A customer who sells allocated stock within 30 days may lose access to new IPO offerings for the next 60 days, with repeated sales potentially leading to smaller or less frequent allocations.