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Deliveroo IPO for UK share dealing clients - IG Q&A on the IPO, Primary Bid partnership, and process


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In March the food home delivery service Deliveroo will look to IPO. UK clients with a share dealing account will be able to apply for a share allocation. The purpose of this thread on Community is to answer some of the FAQs around the IPO, Primary Bid partnership, and process of applying. Please add any questions you may have below.

 

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How do I access the Deliveroo IPO with IG?

  1. You need a share dealing account if you don't already have one. Create account if you don't already have on, or use the 'Add an account' option in 'My IG' as shown below.
  2. Once you have an account with IG head over to PrimaryBid and create an account.
  3. See which issues and IPOs are available.
  4. Place your order through PrimaryBid.
  5. Enter your IG share dealing account ID to receive shares directly into your portfolio.
  6. Additional details are available on Primary Bid once you have signed up.

NB: How to add a share dealing account? Go to My IG, then “Add account”

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FAQ's:

  • Who can participate in the placing through Primary Bid?
    UK Share Dealing clients. (If you own a leverage account (CFD or SpreadBet), you will need to add a share dealing account to participate.

  • I have a share dealing account with IG. How do I apply?  
    You can follow the instructions on this page. (To reiterate, this is only available for UK share dealing clients).

  • When could the Deliveroo IPO happen?
    It is likely to happen on 31st of March for conditional trading. Unconditional trading is expected from the 7 April 2021.

  • What’s the deadline to participate in the placing through Primary Bid?  
    As per Primary Bid’s FAQ: “The expected timetable is that the Community Offer begins on 22 March and will remain open until 30 March at 11:59 p.m.

    Successful applicants will be informed of their allocations on or around 31 March 2021. Admission of shares to trading will not be until 7 April 2021.

    You may hear media reports about Deliveroo’s share price being up or down before April 7th. This is a period called ‘conditional trading’ and only available to institutional investors and not individuals, due to the different market rules for individual investing.

    Note that buying and selling shares may not be possible until some days after Admission, so you should take this into account before applying.” For more information, clients should contact Primary Bid directly.

  • What is Primary Bid?
    Primary Bid is an investment platform that connects companies with retail investors. This gives everyday investors equal opportunities to participate in primary and secondary offerings that have typically been restricted to institutional investors. IG have a formal partnership with them to allow UK clients to access IPOs.

  • Is there a maximum subscription per client?
    Yes £1000. This has been capped by Deliveroo.

  • In which account should the funds be available in order to subscribe?
    Make sure you have sufficient funds on your Primary Bid account to subscribe. You will need to fund the Primary Bid account directly.

  • What’s the GIN number when opening a Primary Bid account?
    The GIN number is your IG share dealing account number. This can be found on the MyIG page. Make sure that you are using your correct share dealing account number - do not use an ISA account number or one of your leveraged accounts (CFD or spread betting) as we will not be able to accept shares into these other account types.

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  • Will there be a fee when my subscription is transferred to my IG share dealing account?
    No, there is no fee.

  • Will Deliveroo be available to trade on the IG platform?
    Yes,
    Deliveroo shares will be available to trade on the day of the IPO from 8 am (UK time). We will not be offering a grey market.

  • Will I be able to find Deliveroo on the IG platform once it starts trading?
    Once the Deliveroo IPO is completed, the stock will be called Deliveroo Holdings and will be available as such on the platform.

  • Who can open a position on Deliveroo once Deliveroo Holdings shares are available on the platform?
    Both leverage and non-leverage clients

  • What will the Deliveroo share price be?
    The price per share has been set at a range of between £3.90 to £4.10. The share price will then fluctuate after the listing as buyers and sellers enter and exit the market

  • Where can I find more information?
    More FAQ's are available from Primary Bid through this link

If you have any questions on the IPO, Primary Bid partnership, or process post them here so we can get back to you. :) 

  • Like 1
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Hi Charlotte, 

Thanks for the post. 

One point of clarification - Who can participate through Primary bid?

I understand that there is an allocation of £50m for Deliveroo account/app holders, which will allow users to apply for 250, 500, 750 or £1k worth of shares - this has been defined by Deliveroo. 

The above post appears to imply this is open to IG share dealing clients in the UK, but does not mention you need to be a Deliveroo client. 

Can you clarify if this is leveraging the Deliveroo client allocation or is this is a separate allocation given to institutions for their retail clients?

Thanks,

TFFX

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7 hours ago, TFFX_ said:

Hi Charlotte, 

Thanks for the post. 

One point of clarification - Who can participate through Primary bid?

I understand that there is an allocation of £50m for Deliveroo account/app holders, which will allow users to apply for 250, 500, 750 or £1k worth of shares - this has been defined by Deliveroo. 

The above post appears to imply this is open to IG share dealing clients in the UK, but does not mention you need to be a Deliveroo client. 

Can you clarify if this is leveraging the Deliveroo client allocation or is this is a separate allocation given to institutions for their retail clients?

Thanks,

TFFX

Hey @TFFX_

Really good question! 

So yes you need to be a Deliveroo client. Only IG share dealing clients can participate and this is the account the subscription will be sent to once completed. The information can be found here: https://www.ig.com/uk/shares/ipos/deliveroo-ipo
 
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Thanks, 
Charlotte 
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Guest Dubai ex-pat

Hi thanks for the post. 

I am an ex-pat living in Dubai, but I have a UK share dealing account. I am unable to access the Primary Bid site as they have a geo-location thing going on which says "This is only for people in the UK" or something to that effect. 

Do you know what I can do? Can you help or do I need to speak to Primary Bid? 

Thanks 

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1 minute ago, Guest Dubai ex-pat said:

Hi thanks for the post. 

I am an ex-pat living in Dubai, but I have a UK share dealing account. I am unable to access the Primary Bid site as they have a geo-location thing going on which says "This is only for people in the UK" or something to that effect. 

Do you know what I can do? Can you help or do I need to speak to Primary Bid? 

Thanks 

Hey, 

Thanks for your post. 

Unfortunately you will not be able to participate. You need to be a resident of the UK and have and active share Dealing account. https://www.ig.com/uk/shares/ipos/deliveroo-ipo#Who-can-participate

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Sorry for the inconvenience. 

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Guest Phil

Just did this. Got this email so putting it here incase others want to read it.

Few things i think are important.

  • deliveroo will give you priority the more you use them / the longer you've been with them. Interesting side of this which they dont tell you until after. Fair enough tho.
  • you may not get the full £1000 if you want it
  • the bit underlined is important.
Quote

What happens next?

Deliveroo’s Community Offer is expected to remain open until 11.59 p.m. on 30 March 2021. After the Community Offer closes, Deliveroo will then determine how to allocate the shares, with an announcement expected on 31 March 2021. If the Community Offer is oversubscribed with applications, Deliveroo will prioritise its most loyal customers first, while ensuring new customers are also able to benefit.

If you wish to withdraw your application ahead of that time, you may do so on your receipt page until 5.59 p.m. on 30 March 2021.

Once share allocations have been determined, you will be emailed by PrimaryBid confirming whether or not you have been allocated shares, your allocation, the IPO share price (which all investors, including Community Offer participants pay), any refund you are owed, and the expected timetable of events until the Admission of shares to trading.


One more thing.

It is important that you read Part 5 of the Prospectus which contains the expected Community Offer timetable. The earliest expected date on which successful applicants to the Community Offer will be able to trade IPO shares is 7 April 2021.

You may hear media reports about Deliveroo’s share price being up or down before April 7th. This is a period called ‘conditional trading’ and only available to institutional investors due to different market rules for individual investors. Customers participating in the Community Offer will not have access to IPO shares at that time, and will be unable to trade their shares.

On the date of Admission, currently expected to be the 7th April 2021, Community Offer shares allocated to customers will not be immediately available for trading from 08:00 a.m. This is because it takes time for shares to be allocated to individuals’ accounts. This is true for everyone in the Community Offer, whether you choose to provide your own stockbroker account details, or whether you put your shares in the Corporate Sponsored Nominee service.

 

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Hi,

I have maxed out on £1,000 on my PrimaryBid account and linked it to my IG account. My friend also has a PrimaryBid account and is happy to transfer his allowance of shares to me as he doesnt want them. I have checked with PrimaryBid and they confirm this shouldnt be a problem from their end and asked I should just check with IG if they can accept shares from two different PrimaryBid accounts under different names into just one IG account. Please could you confirm this is possible?  

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Deliveroo is now going to start trading on Wednesday 31st of March 2021 from 8am.

 

The 7th April is the date being quoted in the press for unconditional trading. Therefore, Spread bet, CFD, GIA and SIPP clients can trade it on a 'when issued' basis from March 31st.

Only ISA will need to wait until April 7th to trade.

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2 hours ago, SidN510 said:

Hi,

I have maxed out on £1,000 on my PrimaryBid account and linked it to my IG account. My friend also has a PrimaryBid account and is happy to transfer his allowance of shares to me as he doesnt want them. I have checked with PrimaryBid and they confirm this shouldnt be a problem from their end and asked I should just check with IG if they can accept shares from two different PrimaryBid accounts under different names into just one IG account. Please could you confirm this is possible?  

Thanks for the post. 

I've just spoken to our corporate actions team and unfortunately it's not something we can do.

Apologies for the inconvenience. 

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2 hours ago, 3104dale said:

Primary bid want my Broker details  ? Where do I find this ?

hi @3104dale - You should be able to see IG as a broker in the drop down menu on Primary Bid. On top of this you can find your IG account number in the following area.

 

What’s the GIN number when opening a Primary Bid account?
The GIN number is your IG share dealing account number. This can be found on the MyIG page. Make sure that you are using your correct share dealing account number - do not use an ISA account number or one of your leveraged accounts (CFD or spread betting) as we will not be able to accept shares into these other account types.

image.png

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  • 2 weeks later...

Having registered IG as my broker on PrimaryBid  and supplied my GIN number (Not the one for my ISA account), i expected the shares i purchased to have appeared some time today.

As of yet there is nothing there, is there anything else i needed to do?

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Guest ACT

I have my allocation of Deliveroo shares via primary bid, have put in my IG account details but there is nothing showing in my IG account. How long is this process as the shares have now entered conditional trading? Thanks

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Around 6 days it took mi e to go through maybe a bit longer  .

Make sure it's your IG account number you have given Primary bid and not any other number as this will stop it going through .

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  • 2 weeks later...
On 29/03/2021 at 13:19, CharlotteIG said:

Deliveroo is now going to start trading on Wednesday 31st of March 2021 from 8am.

 

The 7th April is the date being quoted in the press for unconditional trading. Therefore, Spread bet, CFD, GIA and SIPP clients can trade it on a 'when issued' basis from March 31st.

Only ISA will need to wait until April 7th to trade.

Hi @CharlotteIG, 

I have the same question regarding PensionBee IPO settlement time. Customer IPO application deadline is today. How long will it take to settle into IG stockbroking account and will it be possible to trade "grey" / "when issued" once we know our allocations? PensionBee IPO is on the same PrimaryBid platform as Deliveroo was - did anyone successfully trade that on or before issue day of 26th April? Is there much interest in trading PensionBee amongst IG community?

Thanks

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4 hours ago, heybig said:

Hi @CharlotteIG, 

I have the same question regarding PensionBee IPO settlement time. Customer IPO application deadline is today. How long will it take to settle into IG stockbroking account and will it be possible to trade "grey" / "when issued" once we know our allocations? PensionBee IPO is on the same PrimaryBid platform as Deliveroo was - did anyone successfully trade that on or before issue day of 26th April? Is there much interest in trading PensionBee amongst IG community?

Thanks

We can't confirm settlement dates at this time. Once the subscription is completed, PrimaryBid will send us a list of relevant traders to be checked and a settlement date will be agreed on then, to send the shares over to us. Also, we will not be offering a grey market on PensionBee. Clients subscribing to the IPO through PrimaryBid will only be able to trade once their shares settle on their IG share dealing account. I hope this helps clarify. 
 
On 07/04/2021 at 17:46, IgUser1970 said:

I am still waiting to receive the shares I bought/was allocated through primarybid. Do I need to contact IG to find out where they've disappeared to ? 

Thanks. 

If you contact us and provide an acc number and the shares you've purchased we can check for you and relay the information :)
 
All the best 
 
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