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When-Issued Trading (AIW) 

PREPOX

Chart When-Issued Trading (AIW) - Intraday
Last +8,51%

Price lists

Name Bookbuilding Bid Ask Share Exec.
orders
Change
Aumann AG 35,00 - 43,00 43,90 44,20 13 648 123 +12,95%
IBU-tec advanced materials AG 16,00 - 20,00 17,40 17,70 7 765 49 -2,50%



- PREPOX -(Pre-Public-Offering-Index)-

Tradegate Exchange enables trading in German and selected foreign new issues during the so called pre-IPO phase of a public offering. The trades completed during trading on a when-issued-basis each relate to the first day of listing announced on the intended market. The implementation regulations „When-Issued Trading“ apply.

Through PREPOX® Tradegate Exchange is also able to offer traders a tool for assessing the mood on the private investors’ market for new issues.

In the run up to the first listing, the percentage change in price of a new issue is measured against the average rate of the respective book-building spread and shown separately. Subsequently, all current German new issues flow into PREPOX volume weighted, based on the number of shares actually traded on TRADEGATE®.

Since well over 1 million private investors have access to TRADEGATE® this gives a reliable picture of the current estimation of new issues.

If the book-building spread is changed in the course of a new issue, the original average rate is still kept as the reference point because such a change made by the consortium banks already represents a reaction to the strength or weakness of the public's interest in a new issue.

By introducing PREPOX TRADEGATE® is providing a unique instrument for observing the attractive market segment of new issues. The range of services includes:

  • Overview of all current new issues
  • Display of the book-building spread
  • Provision of currently tradable bid and ask prices
  • Publication of the number of transactions
  • Indication of current trends
  • Illustration of the new issues market in a separate index

 

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All prices in Euro