Robinhood has launched its IPO Access service in the UK, allowing eligible British retail investors to request shares in US offerings at the offer price before trading begins. The service is commission-free, and requests can be submitted through a general investment account. Robinhood is working with a UK provider of public-offering services to make the access available.
A request is non-binding and does not guarantee an allocation. If an offering is oversubscribed, shares may be distributed using random or demand-based methods, so investors could receive only a small allocation or none at all. The service launched in the US in 2021 and has since participated in more than 50 IPOs. Its UK launch gives retail customers a new route to seek shares at the offer price, but it does not remove the risk that a stock’s price may move after trading starts.