Restricted offers are offers that are only available for section 708 investors as described in the Corporations Act 2001 (Cth). Section 708 investors are classified as either sophisticated, professional or experienced and are generally considered to be more knowledgeable/experienced and able to evaluate opportunities without needing a prospectus or other regulated disclosure documents.
However, it could be the case that the issuing company decides to only offer shares to sophisticated and professional investors, but not to experienced investors.
Restricted offers include pre-IPOs, IPO pathfinders and undocumented placements (these are placements without a prospectus). For more information about these types of offers click here.
For more information on how to qualify as an experienced, sophisticated or professional investor click here.