Hordes of Pensionbee customers register to buy shares in firm as deadline approaches
Hordes of Pensionbee customers have registered to buy shares in the firm as the deadline for them to get involved approaches.
More than 12,000 savers, who use the online platform to manage their pension pot, have already taken up the option to buy a piece of the firm when it floats this month.
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The business, run by Romi Savova, announced that its 137,000 customers could each buy shares worth between £250 and £5,000 during the initial public offering (IPO). They have until Tuesday to do so.
Rush: Pensionbee, run by Romi Savova (pictured), announced that its 137,000 customers could each buy shares worth between £250 and £5,000
Pensionbee is expected to be valued at up to £384m when it hits the stock market on April 26.
Small investors rarely get the chance to participate in IPOs, and must usually wait to buy shares from major institutional investors on the stock market once the company has floated.
This often means that they miss out on large early gains, if a company’s float is successful. But this has changed since companies such as Primarybid, which is working on the Pensionbee IPO, started allowing individual savers to participate.
Pensionbee – founded by Savova when she moved jobs and realised how hard it was to keep track of separate pensions – allows customers to combine all of their saved-up money into one pot.