Hey guys.
Just started dipping my toes in the sharemarket. Have a couple k just to play around with and getting the feel for my risk profile before I decide whether I want to invest more.
One question I've got though, is when buying shares through an IPO direct from the company (lets say MJP for example), I assume these won't show up at all on my brokers (currently ASB securities) site for easy trades. being the trade off for skipping the brokerage fee.
My question is around selling these shares when I'm ready to. How do you go about this?
It's easy enough via the broker to get your details in and it's done no problems. The money goes into your account and wham bam thank you ma'am.
I just don't quite see how to trade (when I'm ready to sell) without the broker?
Any advice?
Buying shares in an IPO vs Broker
Printable View
-
08-12-2014, 09:55 PMGuessXBuying shares in an IPO vs Broker
-
08-12-2014, 10:25 PMstoplossIf you buy the shares in a float or direct or off market , just load them into your portfolio on ASB Securities online trading platform . When you come to sell as long as they have the CSN number correct they will show up under your name and it will let you sell them .Quote:
Originally Posted by GuessX
-
09-12-2014, 10:38 AMRGR367Off market trade (by filling up an off-market form) is the only way I know that will not involve your broker or brokerage house. You can download the form from any brokerage house website.Quote:
Originally Posted by GuessX
-
09-12-2014, 11:26 AMGuessXCheers.Quote:
Originally Posted by RGR367
I don't mind the brokerage fees. I'm not planning on being a high volume trader .. I was just concerned that if I purchased through an IPO that I'd have problems selling when it does turn into something I no longer want to hold.
I think stoploss covered it though.
Thanks both. -
09-12-2014, 09:44 PMrayonline
What I would just say is - as a newbie too here. Some IPOs are organised thru a firm and when I rang ASB Securities they couldn't help me as they were not part of that process. I guess as a small customer getting any IPO at times can be a struggle. I rang up Arvida with Forsyth and Barr but they said they might only get me a few thousand not the 10k I was after. They also asked me to come in for an appointment for their other services too, haha. But maybe in future I might be able to get IPOs easier if it is thru them.
Yeah but if you wanna sell them you can just use a online brokering service like ASB or ANZ. Like I got some govt issued shares, I can just manually list that on ASB and it shows me the performance, I could also buy more or sell some too. -
24-02-2015, 02:29 PMGuessX
Well there's a learning curve that cost me a bit of cash.
Thinking my IPO would surge, I was eager to sell in the first half hour of trading and then buy back in at a cheaper amount.
Turns out my CHESS account was registered in a different address to my ASB Sec and they couldn't match my share listing.
Something really basic too .. such as FLAT 5 72 xyz street .. instead of 5/72 XYZ street.
Called up ASB securities and they are looking into how I get this resolved.
ASB has 5/72. Link services has 5/72 .. the letter from MJP has Flat 5 75 xyz street.