28th June 2024 - 2 min read
Moomoo Malaysia has launched its IPO subscription service, allowing investors to subscribe to IPOs directly through the Moomoo app, making it the first stock trading platform in Malaysia to offer this feature in a fully-online process.
This new feature addresses a major pain point for Malaysian investors seeking for a more seamless IPO subscription service, which is a traditionally tedious process. With Moomoo’s IPO subscription service, everything is done directly on the Moomoo app, including real-time updates from application to IPO allotment. Funds are also directly deducted from the user’s Moomoo cash balance, or alternatively can be there’s also an IPO financing option with a rate of 6.8%.
To enable this service, users need to perform a one-time set up. Setting up the CDS Account-IPO is a relatively straightforward process: users simply navigate to the ‘Accounts’ section on the moomoo app, select CDS Account-IPO, and follow the prompts to ensure that personal and bank account information is accurate and updated. Successful IPO shares will initially be credited to the user’s CDS Account-IPO before being transferred to their Moomoo MY Account.
On top of the IPO subscription service, Moomoo adds its own enhancements for a better user experience. This includes detailed information about the IPOs, business analyses, and live Q&A sessions with business leaders – all within the Moomoo app, which already houses existing educational resources including investing courses, market insights, as well as round-the-clock news updates.
“Our platform does more than facilitate transactions. Through comprehensive educational resources and direct engagements such as live webinars, we are creating a community of well-informed investors. These efforts ensure equitable access to crucial information, enabling retail investors to make decisions on a level playing field.”
Johor Plantations Group IPO was the first IPO to be available via the service on the moomoo platform.
As a creative content writer, Eloise has covered finance, business, lifestyle topics, and even moonlights as a singer-songwriter outside of RinggitPlus. Her current interests are learning the best ways to optimise spending and credit card hacks to gain more airline miles.
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