As a result, an individual who is willing to pay the same price as a large, institutional investor can acquire the shares. OpenIPO is intended to raise the most money possible for the company that is going public while giving individual investors an equal shot against institutional investors. Critics have said the OpenIPO process deflates some of the potential for a big jump on the first day because the individual investors have been allowed into the bidding process prior to the public launch. Net's success proved otherwise. People don't realize that the Dutch auction is innovative and new.
Some people think they get screwed out of a deal.
Net IPO did result in a large first-day gain that proved profitable to the individual investors who bought shares at the offering price. However, two previous attempts were not so rewarding. Peter Phelps, chief financial officer of Andover. According to Phelps, Andover. The price people were willing to pay kept going up and up.