Fidelity says poorer people can access more IPOs

Fidelity, the largest stock brokerage in the US, has slashed IPO qualification minimums for its customers by at least 75% and up to 95% for certain offerings. This push to funnel poorer investors into public offerings follows a September in which just five US IPOs raised a paltry $1.9 billion, the slowest US IPO month since March. In fact, across all US IPOs this year, the equal-weighted average return since each offer price is negative . Fidelity’s new minimum is just $25,000 from its former $100,000 or higher threshold, including its old $500,000 minimum to participate in certain non-KKR underwritten offerings. The reduction arrives amid a broad push by brokerages to recruit smaller investors as US listings have slowed to a crawl, weeks before Anthropic’s planned November debut.

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