Wednesday 23rd January 2002
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A: Securities legislation varies from country to country, so whether or not you can take part in an overseas IPO will depend on the ownership restrictions that are in the prospectus. Often you will need to be a resident of the country where the issue is taking place. If you do happen to read about an upcoming overseas IPO that interests you, try to find out who the organising broker is. Perhaps contact them directly or ring their NZ office if they are one of the multi-nationals. You may even be able to read and download the prospectus on the internet and that should contain details of application restrictions. Of course if you miss out on the IPO, you can always try buy the shares once they list.
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