Refunds in IPO subscription
How do refunds work?
In some cases, not all of your money will be used to buy shares. We’ll refund any unused cash to your Revolut investment account on the listing day. There are several reasons you might receive a refund, and some of them can happen at the same time.
The final offer price may be below the maximum of the indicative range. You may receive fewer shares than the amount you bid for. In some cases, you may not be allocated any shares at all.
In the cases described above, the difference between the reserved cash and what you actually paid for the shares will be refunded, including up to the full amount of your subscription if you don't get allocated any shares.
What happens if the IPO doesn't go ahead?
If the offer is cancelled or withdrawn, all subscriptions will be cancelled, and the full reserved amount of cash will be refunded to your investment account.
Market conditions, additional regulatory enquiries, or the company's circumstances can cause an offering to be pulled at short notice, including the day before listing. If this happens, all subscriptions will be cancelled and the reserved cash will be returned.