The company will decide which group of investors can participate in their IPO pathfinder.
Sophisticated, professional or experienced are classifications used to describe investors that are more knowledgeable/experienced and able to evaluate investment opportunities without needing a prospectus or other regulated disclosure documents.
The information about which investors are allowed to invest in the IPO pathfinder will be explained in the T&Cs of each deal and the More Info section of each offer. For example, the Company may decide to only open the IPO pathfinders to investors who are classified as sophisticated or professional, but not offer them to investors who are classified as experienced.
You may apply here to have your OnMarket investment profiles recognised as either of these investor types. Detailed below are the requirements for each classification as required under Section 708 of the Corporations Act 2001 (Cth)
Sophisticated Investor
To show that you are a sophisticated investor you need a Qualified Accountant's Certificate.
Professional Investor
To show that you are a professional investor you need an AFSL number or proof of assets.
Experienced Investor
An AFSL licensee is satisfied on reasonable grounds as described in Section 708(10) and s761GA of the Corporations Act 2001 (Cth.) that the person to whom the offer is made has previous experience in investing in securities that allows them to assess:
You can apply for one of these investor classifications via the Investment Profiles section of your Dashboard once you're logged in to OnMarket.