By Emily Nicolle on 6th February 2018
Now it's not just existing shareholders who can get in on the action.
Now it’s not just existing shareholders who can get in on the action.
As of today, equity crowdfunding platform Seedrs’ secondary market will be open to anyone who wants to buy shares, not just previous shareholders.
Today marks the first of two key restrictions to be lifted on the secondary market since its launch last June. Previously, investors could only buy shares in a company on the secondary market if they were already an existing shareholder for that business. Despite still sitting in beta mode, Seedrs has now opened up the gates to any investors who wants to purchase shares on the market, existing shareholder or not.
The second restriction, which prevented auction pricing, is due to be lifted later this year.
Seedrs confirmed to AltFi that today 768 share lots went live, spanning across 150 different businesses. Since its launch, the secondary market has had share lots in 166 different business traded, providing over 850 investor exits in the process.
The platform expects the trading activity on its secondary market to increase hugely as a result of today’s update, referring to the news as a “natural development” of the access Seedrs provides to the traditionally illiquid asset class. The news comes after Seedrs saw a particularly interesting 2017, including several successful exits and a mild controversy with peer-to-peer lender Wellesley & Co.
Seedrs is expected to provide a further update next week when the market closes, with solid figures from the current trading window.