What we know so far
| Offer price: | $1.53 |
| Proposed code: | STP |
| Expected raise: | $81.3 million |
| Expected listing: | 1 November 2021 |
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Underwear and clothing company Step One is set to list soon on the Australian Securities Exchange (ASX), which means that you'll be able to buy company shares.
Step One had looked to raise $81.3 million at $1.53 a share in its initial public offering (IPO). Although the dates and prices may change, the company is pegged to begin trading publicly on the ASX on 1 November 2021.
Here's what we know about the initial public offering (IPO), including how to invest before it lists and how to buy in when it lists.
How to invest in the Step One IPO
To invest in an IPO, you'll typically need to be registered with a participating broker or lead manager. This can be tricky for regular investors because only a few firms are allocated IPO stock and they're most often full-service brokers. In this case, the IPO is being lead managed by Morgans Financial Ltd.
If you're already registered with a broker, it always pays to check if they're offering pre-listed IPO stock, as lead managers sometimes allocate a portion of shares on to other firms. Your other option is to buy shares in Step One once it goes public. To do that, you'll need to be signed up to a share trading platform:
How to buy shares when Step One lists
- Compare share trading platforms. To buy shares in an Australian-listed company, you'll need to sign up to a broker with access to the Australian Securities Exchange (ASX). Our table below can help you choose.
- Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and tax file number. Fund your account with a bank transfer, PayPal or debit card.
- Search for Step One. Find the share by name or ticker symbol: STP. You can also search for any other shares traded publicly on exchanges available within your chosen platform.
- Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until Step One reaches your desired price. To spread out your risk, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
- Decide on how many to buy. At price of at you're buying the shares, weigh your budget against a diversified portfolio that can minimise risk through the market's ups and downs.
- Check in on your investment. Congratulations, you own a part of Step One. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.
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What we know about the Step One IPO
Step One lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX under the ticker symbol STP.
Morgans Financial Ltd were appointed as lead managers with an expected raise of $81.3 million at $1.53 per share. You can check out some of the key dates and figures in the table below:
| Step One IPO key numbers | |
|---|---|
| Offer price | $1.53 |
| Dividend yield | 0% |
| Total number of shares available under the offer | 53,143,791 |
| Proposed ASX code | ASX: STP |
| Target market cap | $283.6 million |
| Retail offer opens | 18 October 2021 |
| Retail offer closes | 25 October 2021 |
| Expected listing on ASX | 1 November 2021 |
| Expected dispatch of holding statements | 29 October 2021 |
According to latest information available, retail investors (regular investors) have between 18 October 2021 and 25 October 2021 to participate in the Step One IPO. After the retail offer close date, you'll need to wait until the stock is publicly available on the ASX to buy shares.
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The value of your investments can fall as well as rise and you may get back less than you invested. Past performance is no indication of future results.
Company history
Step One launched in 2017 by Greg Taylor and is headquartered in Sydney, Australia.
How do I buy shares?
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.
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