UK investment platforms line up for Anthropic’s landmark $1.4tn float

Several leading UK investment platforms have begun accepting orders from retail investors for shares in Anthropic, as the company prepares for what could be one of the largest IPOs ever. The AI firm plans to list on the Nasdaq on November 19 and targets a valuation of $1.4 trillion (£1.1 trillion), according to recent filings. Investment banks are now considering increasing the IPO price due to strong demand.

RetailBook, a London-based fintech platform, has been appointed to coordinate the UK retail offer, with Anthropic issuing 825 million shares at an estimated price of $70 to $78 per share. Twenty percent of the offering is set aside for retail investors. It's unclear exactly how many shares will be issued to UK investors, but under US listing rules, Anthropic is utilizing the Financial Conduct Authority’s public offer platform (POP) to allow UK investors access, as most IPOs are typically off-limits to international retail investors.

Platforms participating in the share sale include AJ Bell, Hargreaves Lansdown, Robinhood, Interactive Investor, Interactive Brokers, Revolut and Etoro. Investors have until November 18 to purchase shares. Minimum investment requirements among the participating platforms vary, with Hargreaves Lansdown requiring a minimum investment of £250 per client and AJ Bell opting for a minimum of £1,000 per investor.

The decision to include retail investors in the IPO is attributed to the success of SpaceX's UK share sale in June, which saw over 100,000 UK investors apply for more than $1 billion of the company's stocks. Some investors were able to benefit from a first-day pop of 19.2 percent, though Anthropic's share price has since experienced a post-IPO decline. Despite this, the IPO remains popular with UK investors, who, like SpaceX's clients, stand to gain from a deeper, more diverse pool of demand.