What Is a Conditional Offer to Buy (COB), and Why Do I Enter a Dollar Amount Instead of Shares?
A Conditional Offer to Buy (COB) is your application for shares in a US e-IPO on Pluang — it's "conditional" because you only receive shares if the underwriter allocates them to you. You enter a dollar amount instead of a share count because the final IPO price isn't set until the underwriter decides it the morning of the IPO, within a published price range.
- Why dollar amount, not shares: Since the exact price per share isn't known when you order, entering a dollar amount tells Pluang how much you're willing to invest regardless of where the final price lands. Once the price is set, you receive as many whole shares as your dollar amount can buy.
- How your funds are held: The amount you enter is reserved from your USD Cash the moment you submit the order. Any portion not used — because of scale-back, non-allocation, or leftover from rounding to whole shares — is returned automatically.
- Order cardinality: You can only have one active COB per IPO. If you want to invest a different amount, use Amend on your existing order rather than submitting a new one.
- Not final until allocation: A COB doesn't guarantee shares — it's an offer that Pluang's broker partner may fully allot, partially allot, or not allot at all, depending on demand for that IPO.
Related questions:
Q: Can I submit more than one COB for the same IPO?
No — only one active order per IPO is allowed; use Amend to change the dollar amount instead of placing a new order.
Q: Does entering a larger dollar amount guarantee more shares?
No — allocation depends on demand for that IPO; a larger order can still be scaled back if the IPO is oversubscribed.
Q: Is my COB locked in the moment I submit it?
No — it can still be cancelled or amended until the 60-minute final warning window closes.