Tuesday, March 11, 2008

Getting Visa IPO

Unfortunately, my primary discount broker, TD Ameritrade, no longer participates in IPO’s. Here are my attempts at getting my hands on some shares of the Visa IPO:

(1) E*Trade – No Visa, but an IPO offering for Pogo Jet. What’s that….??? I’m staying away from that one.

(2) Fidelity Investments – They have the Visa IPO offering, but minimum account balance of $500,000 is required to participate. Nope, not there yet…

(3) Called a broker with one of the underwriting firms about opening an account and participating in the upcoming Visa IPO. I received the following response: the firm requires a minimum account balance of $5,000,000. Do you want to open an account? My response… Ummm… No Thanks…

(4) I finally might have success… I called another underwriting firm and they were helpful in opening an account to participate in the IPO. They walked me through the application process. Of course there are no guarantees in obtaining shares. If I’m able to obtain some IPO shares from this firm, I’ll start to do some business with them.

6 Comments:

At March 12, 2008, Anonymous andrew said...

I would be interested to know what you find out. Of course what I really want to know is which broker you are talking about. (myself and several hundred thousand other investors)
Can you share any more info?

 
At March 13, 2008, Anonymous Anonymous said...

Schwab requires $100K in equity.

"We will start taking conditional offers to purchase at 3:00 p.m. est. on 3/14/08 and will continue through 5:00 p.m. est. on 3/18/08. Please monitor this site for additional updates."

No guarantees. I've read 400 share maximum per retail account but cannot substantiate that figure.

 
At March 13, 2008, Blogger z-stock said...

that's hot---
zee

 
At March 14, 2008, Anonymous Anonymous said...

I have a ShareBuilder account and I just realized today that I may not be able to make any real-time trades for VISA on 3/20. Sure enough it turns out they are not offering the VISA stock. Really bummed out.

I contacted e*trade and they're not offering it. No luck with Charles Schwab. Said I had to be an "active trader" or have $100,000 in equity.

Bank of America might be a possibility.

 
At March 14, 2008, Blogger Money Turtle said...

There’s no doubt about it… this is a hot, hot IPO, but it is also the largest IPO ever so they’ll be plenty of shares floating around. The best way to get your hands on this IPO is to contact the underwriters; they’re the ones allocating the stock. Here’s a list of the Visa underwriters: J.P. Morgan, Goldman, Sachs, Banc of America, Citigroup, HSBC, Merrill Lynch, UBS Securities and
Wachovia. Call them up and tell them that you’re interested in participating in the Visa IPO and would like to do some future biz with them. They might allocate you 100 shares of the IPO, but that’s about it. If you want more, you have to buy when it starts trading.

 
At March 14, 2008, Blogger Money Turtle said...

There’s no doubt about it… this is a hot, hot IPO, but it is also the largest IPO ever so they’ll be plenty of shares floating around. The best way to get your hands on this IPO is to contact the underwriters; they’re the ones allocating the stock. Here’s a list of the Visa underwriters: J.P. Morgan, Goldman, Sachs, Banc of America, Citigroup, HSBC, Merrill Lynch, UBS Securities and
Wachovia. Call them up and tell them that you’re interested in participating in the Visa IPO and would like to do some future biz with them. They might allocate you 100 shares of the IPO, but that’s about it. If you want more, you have to buy when it starts trading.

 

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