With all things cannabinoid related seeing explosive growth on the markets it is little surprise that many investors took Cellular Goods upon their offer to participate in its IPO.
Today is the day that many will find out just how much of their desired allocation of shares they will receive in the IPO.
And for big retail investors it is safe to say they will be disappointed, although smaller investors look to be relatively happy.
Regardless, the omens are positive that this IPO is inevitably oversubscribed and investors can look forward to a roaring debut in early March.
Joy for smaller retail investors as bigger retail investors left wanting more!
Judging by the looks of various chatter, it seems investors typically received around £500-£1000 worth of shares depending on the amount they put down.
Smaller investors are reporting that they received all or most of their desired allocation, while bigger investors seem to be capped at around £1000:
“Just over 50% allocation for me, from £1000 investment #CBX”
“Just over 51% allocation [£1,000 investment]
“Woo! 100% (only £129 though)”
“Strange. I got 100% of my allocation (albeit only £500 worth)”
“Got just over £500 out of £750 I asked for”
“CBX allocation is nuts, just had confirmation of £856 worth of a 13k attempt. First day of listing will be interesting”
“£800 out of £12k”
“Applied for £22k, received refund of £21k”
All signs point to a roaring first day of trading
With such strong retail invest in the offering and the associated scale-backs, it seems clear that the Cellular Goods IPO will get off to a very strong first day of trading.
While retail investors may be disappointed by the scale-back in allocations, this retail offer will hopefully be emulated by more companies and they should be able to look forward to a paper profit from day one.
Savvy investors will no doubt be seeking to pounce on any dips shortly after admission.
