Are you confusing a restriction an individual stockbroker applies to a government restriction?
I have seen Goodbody say that to become a client you need to be a resident of UK or Ireland, I imagine that is something to do with their regulation, and not to do with this particular IPO. Also I guess if someone was currently non-resident buy had an old Goodbody account then they'd have access to the IPO - they'd hardly check - I've not changed my address with them for a few years because they make it unnecessarily awkward (has to be done via mail).
There are other stockbroking firms involved, maybe see what they say.
Why?. it should be open to all EU citizens, and certainly to all Irish citizens.
Bear in mind that we are talking about taxpayer money.
Well, then you will understand that it makes no sense to waste taxpayer money on needless legal and regulatory costs.And I am, and have continuously been for the last 42 years, an Irish taxpayer!
I'm still not happy and have asked the Department to address my complaint, which is that as an Irish citizen and taxpayer I should have the possibility of applying for shares.
Shares cannot be offered for sale to residents in other jurisdictions without incurring significant additional costs.
This is correct, but these costs only apply if you "offer" i.e. take the initiative and market the shares. If you are passive, and an investor from another jurisdiction comes to you, these requirements do not apply.
Sorry Joe but that is simply not correct in the context of a public offering of this nature. This has nothing to do with marketing or reverse solicitation.
The Department has accurately described the legal position.
Well I'm not a lawyer, but I can say, having worked in financial services in a few countries, that in all of those countries home state requirements only apply to offerings.
Ireland United Kingdom, UAE.So which states exactly are you talking about, 'cause I've worked an a few IPOs over the years and I can recall a single instance where that was the case.
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