Online clients of First Metro Sec can access the facility for subscribing to the latest IPO, FOO, and SRO using the current available cleared funds in their account. Cleared funds are part of the total Buying Power, the amount of which is equivalent to transactions (trades, fund transfers, cash dividends, etc.) that have already been subject to clearing or available for withdrawal. All open orders affect the total buying power and may in turn affect the amount of available cleared funds in the portfolio. Only cleared or withdrawable funds are usable in IPO, FOO, and SRO subscriptions.
To reserve shares, please follow the instructions below.
2. Go to Account, select Corporate Actions.
3. In the Corporate Actions Lists look for the stock offering. Then, click View. Note that the stock will only be published on the start of the offer period.
4. Select I/We WILL avail, then key in the Number of Shares to Avail. Read and accept the disclaimer to proceed.
Note: For SRO and Tender Offer, ordering is open only to eligible stockholders. For SRO, those who have the shares on record BEFORE the ex-date.
5. Click Submit.
6. Review the information you provided, then click Confirm.
7. You will receive an email confirmation if your subscription is successful. Otherwise, kindly message firstname.lastname@example.org
- Please ensure that you have enough cleared/withdrawable funds to cover your reservation. Note that sold stocks take two (2) trading days before the amount becomes cleared/withdrawable.
- The ordered amount will be earmarked upon ordering. The corresponding amount of unallocated shares will be returned to the client’s account after the offer period.
- Once submitted, reservations cannot be altered or cancelled.
- FirstMetroSec’s acceptance of reservation does not guarantee the allocation of shares.
- Share allocation is dependent on the awarded broker allocation for the specific issuance, and may be scaled down or raffled electronically.
- All successfully allocated accounts will be notified via email.
- IPO subscriptions may also be placed via PSE EASy. Click HERE for more details.