Robinhood brings pre-IPO access to UK retail investors: The premarket goes transatlantic

Robinhood has launched a service allowing UK retail investors to request shares in eligible US initial public offerings before trading begins, expanding access to a product the company introduced in the US in 2021.

Customers can use their existing investment accounts to review offering documents in the Robinhood app and request shares at the IPO price without paying trading commissions, the company said Monday. Robinhood has participated in more than 50 IPOs since launching the service in the US in 2021 but did not identify which upcoming US IPOs would be available to UK investors. Cointelegraph asked Robinhood for clarification but did not receive a response by publication.

The expansion followed Robinhood’s third-quarter earnings report in October, when the company reported record revenue of $1.42 billion and net income of $476 million.

Robinhood shares (HOOD) closed at $80.91 on Friday, gaining 3.2%, according to Yahoo Finance. The stock traded at $79.50 in premarket trading on Monday.