Allocated Edenor IPO shares

By | April 27, 2007

I was allocated 100 shares of EDN IPO at $17 on Thursday. However, I had asked for 1,500 shares, but I was only allocated 100 shares. This is the first time I was allocated IPO shares by Fidelity. I was unsuccessful with the DEEP and several other IPOs.
EDN traded in the secondary market on April 26, 2007 and opened at 17.50. The stock closed at 17.65.

Argentina’s Edenor IPO rises 7.5 pct in U.S. debut

3 thoughts on “Allocated Edenor IPO shares

  1. pfstock

    Congratulations on getting your first IPO share allocation. One is typically allocated either 100 shares or none, so an order of 1500 shares is a bit excessive. I’ve given up on trying to get multiple lots; I usually put in a order for 200-300 shares. And I don’t even expect to get that many!

    There is another new IPO coming up this week called Interactive Brokers (Nasdaq: IBKR). It is an “OpenIPO” which means that it uses a modified Dutch auction for allocation. I’ve never really been a fan of the auction method, but I will note that one IPO that used a Dutch auction was Google (Nasdaq: GOOG). Google’s IPO was actually unspectacular, but the stock has done amazingly well since then.

    Reply
  2. Smarty

    Hi pfstock,

    Thanks, but 100 shares of EDN don’t really benefit me. I see the new IPO IBKR and I’ve submitted my interested for shares. IBKR looks pretty good at a glance. While I don’t think their stock will do spectacular like good, I don’t think it will be drop like CLWR. If I can get shares, I plan to sell them after the 90-day holding period. How does a Dutch auction work?

    Reply
  3. Money Turtle

    Just consider yourself lucky if you receive an allocation of 100 shares. The most I’ve ever received was 200 shares.

    Reply

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