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Step 1
Talk to your broker at the investment bank to see if he has any IPOs available. Typically, an investment bank sponsors IPOs. The bank is called the underwriter and buys a set amount of shares.
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Step 2
Ask your investment banker if you need to maintain a minimum balance in your account in order to continue to participate in IPO auctions. Many underwriters reserve the right to offer IPOs to only their best customers, so you might need to have an established relationship with yours, as well as have maintained a fairly large minimum cash balance.
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Step 3
Look at the price of the shares. In a Dutch auction, the IPOs shares will start at a maximum price. Until the stocks sell, the price of the IPOs will continue to decrease until demand is satisfied.
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Step 4
Follow the price of the IPO auction during the day. Most investment computer software cannot track IPO auctions because the information isn't publicly available yet. Talk to a representative about how you can follow the auction price, which could be in person or over the telephone.
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Step 5
Inform your investment banker when the IPO reaches a price that you can afford. You'll have to know how many shares you want to purchase at this price. The quicker you make a decision, the more likely you'll be able to buy all of the shares that you want.
