From Cointelegraph · By Helen Partz
Robinhood has launched a service that lets UK retail investors request shares in eligible US initial public offerings (IPOs) before trading begins.
Customers can use their existing investment accounts to review offering documents in the app and request shares at the IPO price without paying trading commissions, Robinhood said Monday.
Robinhood said it has participated in more than 50 IPOs since launching the service in the US in 2021. The company did not identify which upcoming US IPOs would be available to UK investors.
Cointelegraph asked Robinhood for clarification but did not receive a response by publication.
The expansion follows Robinhood’s third-quarter earnings report in October, when the company reported record revenue of $1.42 billion and net income of $476 million.
Robinhood shares (HOOD) closed at $80.91 on Friday, gaining 3.2%, according to Yahoo Finance. The stock traded at $79.50 in premarket trading on Monday.
Related: Robinhood’s Tenev warns US tokenization uncertainty deters ‘serious assets’