Monday, October 28, 2013

Twitter IPO - on the list

The Twitter IPO is getting near the end game. On Friday my broker (Muriel Siebert) had them listed on their IPO list. Early this morning I got an email alert from my broker indicating that I could call "to place an indication of interest", so I did, and now I'm on my broker's list.
 
As they said, this is not an order (yet) and merely an "indication of interest" and not an actual "allocation." They asked how many shares I was "interested" in. I said 2,500, not that I actually expect to get that many, but I'll take as much as I can get. They said they will call me if I do get an allocation ("and if you don't hear from us, it means you didn't get an allocation.")
 
When I mentioned the $20 price as the upper end of the price range, they were clear that the price range is not final.
 
Anyways, the wheels are in motion and my "indication of interest" is on the Twitter IPO train. Or maybe it would be more appropriate to say that I have been directed to the train platform and have a "standby" ticket.
 
My understanding is that the final pricing would occur after the close on November 6, 2013, so I would imagine that my "order" cannot be finalized until that time. But... I expect that the allocation would be set a bit before then. It has been many years since I participated in an IPO, so I'm not positive about the precise sequence and timing.
 
I'll consider my effort successful if I am allocated 500 or even 200 shares. Otherwise, I'll have to continue with earlier plans to plan market and limit orders on opening day. Actually, if I get less than 500 shares on the IPO, I'll still try to get more on the open market. Otherwise, I'll reserve the cash for buying on dips.
 
Great way to start a Monday and a new week.

-- Jack Krupansky

1 Comments:

At 2:03 PM EST , Blogger Ignoto said...

Hi. Just curious, were you ultimately allotted any shares of the Twitter IPO via Muriel Siebert? I also have an MS account and expressed my interest for some shares of the Twitter IPO but didn't get any. (They, of course, did get me into the ill-fated Facebook IPO, however.)

 

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