@racheal09:- the info memoranda of all IPOs clearly state the allocation criteria. If you read the KenRe one,for example,you see that there was a possibility of odd share allocations....and eventually,many people got 333 shares; but the case of SCOM,it was made clear that allocation would be to the nearest 100 units.
Thus it is not true that people get cheated through allocation of awkward numbers of shares in IPOs.....if you don't read what you are signing up for,you can only blame yourself!!
@brightstar; if you were allocated an odd number during an IPO,you can easily sell the whole lot in the early days after the stock hits the market. The reason is that many buyers place orders in multiples of minimum allocation (e.g. 333 in KenRe).
However,after a few weeks,these odd orders dry out and many would be sellers are left with sub-100 lots in thei hands.
If you have sub-100 lots,you must decide whether to simply keep them for a long lime and wait for a split or to sell them off at a good discount,say 20% below prevailing market price.
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