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This partnership will enable significantly greater participation for customers of Halifax Share Dealing, Lloyds Bank, Bank of Scotland, and IWeb Share Dealing in IPOs and other UK public company capital raises (both equity and debt).
Customers will have a co-branded introduction to primary markets with access to additional educational material to help them on their investment journey.
Once customers sign up, they can choose to receive instant notifications from PrimaryBid and take part in a range of transactions, including IPOs, placings, block sales, corporate bonds and gilts, settling securities back to their Halifax, Bank of Scotland, Lloyds and IWeb Share Dealing accounts.
HM Treasury has driven regulatory change in the last three years which unlocks individual investor access to public company fundraisings. However, retail investor awareness of this investment opportunity is still low.
A survey by PrimaryBid in 2022 found that only 8% of investors knew what a “follow-on” fundraising was. This partnership aims to increase the visibility of primary markets across Lloyds Banking Group’s brands – with an educational first approach.
Customers invest on the same terms and at the same price as institutional investors – with no additional fees and no stamp duty – as this is not levied on primary markets deals.