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Bidding

Last updated 2 months ago

How does bidding work?

The complete bidding process with Fresh Equities.

Introduction

During a typical book-build there are three stages:

  1. An indicative bid - investor confirms their eligibility and submits a bid. This is not yet a firm bid.

  2. Confirmation - investor confirms the bid, it is now firm and irrevocable. 

  3. Allocation & settlement - the company determines the allocation amount and presents the investor with a placement letter and settlement details. 

Fresh works in the same way. Our platform is designed to reduce friction at each stage and make sure that all bidders can participate easily and fairly. Throughout this process you can monitor the status of your bid on Your Account.

Before bidding

Fresh will need to verify your eligibility to participate in the deals on the platform so that your bid can be accepted immediately. There are two steps in this process, both of which can be managed anytime through Manage Account:

  1. ID verification

  2. Sophisticated/Professional investor check

Note - at this point you can also set up your Bidding Entity details.

Once your ID check and sophisticated investor certificate have been verified by the Fresh team (generally within a few hours) you will be able to place an indicative bid on any deal that Fresh gains access to!

Bidding

Step 1 : Indicative Bid

You can click into any Live Deal and view the offer details, term sheet and Company Page before making your bid decision. 

You can then place an indicative bid by entering your bid amount in this box:

A bid is considered an indicative bid when an investor places an initial bid through the offer page but has not yet checked the terms and conditions and confirmed their intent on the confirmation page.

This is not yet a firm bid and you can still edit and/or withdraw the bid at this stage.

Step 2: Confirmation

A bid becomes firm and irrevocable once it has been confirmed by the investor. This happens once you have read and confirmed the terms and conditions, and clicked ‘Confirm Bid’. You will know your bid has been confirmed once you receive a bid receipt email.

After bidding

Step 3: Allocation outcome and settling the deal 

Usually within 1-2 days of the deal closing the broker will notify Fresh of the allocation outcome which we will relay to all participating investors. At this point we will also send you an offer letter outlining your allocation details and settlement/ payment instructions.

Click here for more information on offer letters.

Click here for more information on allocation and settlement.

Click here for more information on settlement processes.

Expressing interest

Fresh investors can also express interest in capital raises as soon as the company enters a trading halt. It’s important to note, expressing interest and bidding are two separate functions.

Expressing interest is not a firm commitment.

When a company enters a trading halt the deal will be displayed on the Raises Page under Pending Access. After you express interest in a deal you will be the first to know when the deal goes live via email and notification on the Fresh App (download here if you haven’t already)!

There is no requirement to express interest before you place a bid, however it can help you stay up to date on whether Fresh gets access to the deal or not.

Become a client!

Click here to learn more about the account opening process.

Click here to go straight to creating an account and start bidding with Fresh!

Click here to see the live offers on Fresh.

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DISCLAIMER: This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice.

Fresh Equities connects investors with listed companies raising capital

We provide comprehensive access to listed capital raises for institutional, family office and high net worth investors.

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Copyright © 2021 Fresh Equities. All rights reserved. ACN 619 657 028. CAR: 001267539 of AFSL: 471379.