There is no guarantee that you will receive any shares, or that you will receive the full number of shares you have requested. In popular IPOs, demand often exceeds the number of shares available (a situation known as "oversubscription"). When this happens, the bookrunners will scale back allocations, meaning each investor may receive only a proportion of the shares they applied for — or, in some cases, none at all.
Will you receive all the shares you have requested?
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Can I transfer fractional shares via ACATS?
What is IBKR’s role in an Initial Public Offering (IPO)?
How many shares can the account receive?
What is a Conditional Offer to Buy (COB)?