How to sell IPO on listing day?

An investor may sell IPO shares after 10 a.m. on the day of listing, just as he may sell any other stock on the exchange. IPO shares are traded as normal shares after 10 a.m. on the day of listing.

Note that exchanges hold a special pre-opening trading session for newly listed companies between 9:00 and 10:00. The purpose of this session is to discover the IPO listing price. If you place an order during the pre-opening session, please note the following:

• Pre-opening orders are placed like normal orders between 9:00 and 9:45 am.
• Only limit orders are allowed in the pre-opening session. Market orders are not allowed.
• There is no price band during the pre-opening session.
• Orders can only be placed, canceled or modified until 9:45 am.
• Orders are matched at 9:46 am and compatible orders are executed.
• Remaining orders are moved to the regular trading queue where trading begins at 10:00 AM.

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