DEUTSCHE BANK UNVEILS PLANS TO OFFER IPOs OVER THE NET.
Frankfurt-based German financial institution Deutsche Bank yesterday unveiled plans to offer private investors shares in initial
public offerings via a dedicated web site, to be launched in March.
Though this is not the first such initiative, it is the first by a
major bank, and as such represents an important step towards electronic
share trading. Deutsche Bank plans to include on the web site all the
necessary information on past, present and future IPOs it is handling,
including company profiles. The site will be accessible by all
customers of Deutsche Bank and its electronic banking subsidiary,
Bank24, who have an online custody account. For companies planning to
go public, the service should hold considerable enticement to take
their business to Deutsche Bank, as it will enable them to access its
575,000 online customers. Due to regulations, US investors will not be
allowed to use the service.