By Aisling Finn on Tuesday 21 April 2020
The investment platform is asking for ordinary investors to be included in discounted share sales many market commentators are anticipating.
Retail investors must be allowed to participate in new fundraises by listed companies, according to investment platform PrimaryBid, which has today published an open letter to bosses.
The open letter addressed to“the boards and management teams of the UK’s listed companies urges boards to involve “individual shareholders and employees”, alongside institutional investors, in any discounted cash raises.
Anand Sambasivan, CEO and co-founder of PrimaryBid, said: “Retail investors should be afforded the same protections and participation rights as other company shareholders. The technology now exists to include retail in these fundraising details without compromising on timetable or execution.”
“Coronavirus has put significant pressure onto many of the UK’s listed companies who now need to raise equity, including household names with large retail investor followings. It’s only fair that those retail investors can be part of a Great British Recapitalisation,” he added.
Following the publishing of the letter, thousands of retail investors have reportedly signed up to use the platform.
Notable signatories of the letter include James Deal COO of PrimaryBid, Peter Hargeaves founder of private investment platform Hargeaves Lansdown and Adam Dodds CEO of Freetrade.
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