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You cannot order shares that are not yet listed on the stock exchange. You cannot even trade after hours.
The exchanges permit a pre-open trading session to trade IPO shares only on the first day of trading. Pre-open sessions last 45 minutes (9:00 to 9:45 am) and are where orders can be entered or modified.
The exchange determines the listing price for the IPO share based on the supply and demand of shares that were traded in the pre-open window. The IPO stocks go public at 10 AM.
If the listing price is higher or equal to the price that you have pre-opened in order to sell in preopen, your shares will be sold at the listing prices in the preopen trading session.
Your pre-open order will be cancelled if the listing price falls below the sell price in the preopen market.
Answered Monday, July 8, 2019,
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