This policy is specific to the allocation of a new issue of shares, including in IPOs, placings and where an issuer is placing existing shares.
To the extent relevant to the transaction, the factors relevant to recommendations and decisions on the pricing and allocation of an offering will include some or all of the following factors:
- the size of a potential investor’s expressed interest (both absolutely and relative to the issued share capital);
- the nature and level of interest shown by the potential investor in the issuer and the particular offering, for example its involvement in road shows and other direct contacts with the issuer;
- the timing of the potential investor’s interest, especially if interest is expressed only at a relatively late stage;
- any indication or reasonable belief that the potential investor has exaggerated the true extent of its interest in the expectation of being scaled down;
- the potential investor’s interest in, and past dealings in the sector, jurisdiction or trading segment of the issuer;
- the category or description into which the potential investor fits; and
- any selling restrictions or other relevant legal or regulatory restrictions in jurisdictions with which the investor is connected.
Potential investors should contact us via direct phone line or email if there are any queries or any particular preferences or requirements regarding allocation and we will consider any such requests or requirements that are reasonably made.
However, you agree that, we will make allocations at the discretion between us and the corporate issuer. You should be aware that you may not receive the full amount you have applied for and may be scaled back, in accordance with the above, in the event of over subscription. In any case we will communicate the terms of the scale back to all applicants.
Investors are likely to include WH Ireland Limited’s clients to whom we provide other services and may also include WHI’s own principal book or an affiliate of the firm. Any potential conflict of interest will be managed in accordance with the Conflicts of Interest Policy as published on the WHI website.