Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

BrewDog IPO

Discover how to get exposure to BrewDog – before and after its initial public offering (IPO) – with the world’s No.1 CFD and spread betting providers.1

Start trading today. Call 0800 195 3100 or email newaccounts.uk@ig.com. We’re here 24 hours a day, from 8am Saturday to 10pm Friday.

Contact us: 0800 195 3100

Start trading today. Call 0800 195 3100 or email newaccounts.uk@ig.com. We’re here 24 hours a day, from 8am Saturday to 10pm Friday.

Contact us: 0800 195 3100

Why trade BrewDog's IPO with us?

Stay ahead of the market

Open an account ready for the exclusive grey market we could offer on BrewDog – so you can trade pre-IPO

Speculate on BrewDog

Open a position on the future price of BrewDog shares using spread bets and CFDs

Buy BrewDog stock

Take ownership of BrewDog stock with a share dealing account or tax-efficient ISA3

How to trade the BrewDog IPO

Before the listing

Take your position on a range of grey markets, exclusively with us. If a grey market is available for BrewDog, you can speculate on whether the stock price will be higher or lower than its predicted market cap at the end of its first trading day. You’d:

  • ‘Buy’ (go long) if you think the market cap will be higher
  • ‘Sell’ (go short) if you think the market cap will be lower

After the listing

Get exposure to BrewDog shares with us by:

Trading vs investing in BrewDog shares

When trading on BrewDog shares with us, you can speculate on the underlying market price with spread bets and CFDs. You won’t take ownership of the shares, so you can speculate on both rising and falling prices, and get certain tax benefits.3

You’ll only need a small deposit – known as margin – to get full market exposure. Trading on leverage can magnify your profits, but it can also magnify your losses, making it important to have a suitable risk management strategy in place.

When investing in shares with us, you’ll use a share dealing account to buy and sell the underlying stock. Because you’ll own the BrewDog shares, you can only make money if the share price goes up – but you would also be entitled to any dividend payments that are made, and you will have shareholder rights.

To open a share dealing position, you’ll need to put down the full value of your investment. When investing, you’ll never lose more than this initial outlay.

Open a share trading account in minutes

Open a share trading account in minutes

Fast execution on a huge range of markets

Enjoy flexible access to more than 17,000 global markets, with reliable execution

Deal seamlessly, wherever you are

Trade on the move with our natively designed, award-winning trading app

Feel secure with a trusted provider

With 45 years of experience, we’re proud to offer a truly market-leading service

Open a share trading account in minutes

Open a share trading account in minutes

Fast execution on a huge range of markets

Enjoy flexible access to more than 17,000 global markets, with reliable execution

Deal seamlessly, wherever you are

Trade on the move with our natively designed, award-winning trading app

Feel secure with a trusted provider

With 45 years of experience, we’re proud to offer a truly market-leading service

Start trading now

Log in to your account now to access today’s opportunity in a huge range of markets.

Start trading now

Log in to your account now to access today’s opportunity in a huge range of markets.

Our analysis on the BrewDog IPO

By Chris Beauchamp

BrewDog’s IPO remains hotly-anticipated for the brewer’s army of fans worldwide. The company is small in comparison to titans such as Anheuser-Busch and Heineken, but it has caught the imagination of beer drinkers who have sought a change from mass-produced beers and lagers.

An IPO would represent the next stage for the group, which has come from a tiny operation in Scotland, and has now exhausted the crowdfunding route that proved so vital in its early years.

One valuation estimate pointed to BrewDog being worth around $2 billion, compared to $95 billion for Anheuser-Busch. But the company has big ambitions, and having expanded beyond beer alone now looks to join the ranks of globally-listed drinks producers.

Having seen spectacular growth since its founding, the firm faces a more uncertain future. The global pandemic will hurt economic growth and consumer spending, which may mean future growth is harder to come by. It also operates in a highly-competitive space, with plenty of other small brewers jostling for sales. BrewDog’s IPO will help enliven global stock markets, but it will remain a small player in a very big marketplace.

What is BrewDog’s business model?

BrewDog is a brewery, bar chain, hotel and brand founded by two Scotsmen in 2007. The company rebelled against the typical business model, and instead built its brand on ‘punk’ culture – performing stunts such as projecting themselves onto the Houses of Parliament and hosting rock and roll annual general meetings (AGMs).

BrewDog has raised a lot of its capital through a crowdfunding program known as ‘Equity for Punks’, which now has over 145,000 global participants. From its first funding round in 2009 to August 2020, the scheme has raised £79 million.

In September 2020, BrewDog’s last ever crowdfunding round before its IPO launched, raising £1.2 million in just 48 hours. The round will run for 150 days, offering 298,210 shares at £25. The is intended to fund BrewDog’s 2020 vision for sustainable beer production – including cutting-edge projects into wind power, CO2 recovery and electric vehicles.

How has BrewDog been performing?

Between its creation in 2007 and 2020, BrewDog experienced a rapid expansion in its 13-year history, with nearly 100 bars worldwide, and over 1000 employees worldwide.

However, like other hospitality businesses, BrewDog suffered during the coronavirus crisis of 2020 – losing £8 million in the first half of the year. But the wholesale and ecommerce arms continued to bring in capital.

What was BrewDog last valued at?

BrewDog was valued at about $2 billion at the start of 2020 following 2019 revenues of $300 million.

In 2008, BrewDog applied to be on popular investment show Dragon’s Den, to offer the Dragons a 20% stake for £100,000. Had they not been rejected, this stake would be worth £360 million in 2020.

What could the BrewDog share price be?

For current investors in Equity for Punk, shares cost £25 with a minimum investment of one share. This could act as a guide for their IPO price, but it is still a relative unknown.

Who are BrewDog’s competitors?

BrewDog is often compared to beverage industry giants such as Anheuser-Busch and Heineken. The most recent valuation of BrewDog was $2 billion, compared to $95 billion for Anheuser-Busch.

However, BrewDog’s main competitors are Reed’s, Inc, Meantime Brewing Company, Aspall and Harpoon Brewery – all of whom are craft brewers with global operations. BrewDog is the frontrunner of the group, as its valuation of $2 billion is far above the next known valuation, which is Reed’s Inc at £58 million.

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FAQs

An IPO occurs when a company decides to start selling its shares to the public. Most companies list shares to raise capital to fund expansion, pay debts, attract and retain talent, or monetise assets.

First, an audit must be conducted – considering all aspects of the company’s financials. Then, the business has to prepare a registration statement to file with the appropriate exchange commission. If approved, the company will list a defined number of shares at a price set by an investment bank. The shares will be available for sale through the chosen stock exchange.

Learn more about how IPOs work

Grey markets enable traders to get exposure to a company before it lists on a stock exchange. When you decide to trade the grey market, you’re trading on the estimated market valuation of a company. The official valuation is only released after the first day of trading – and it is based on the demand shown by the market that day.

So, if you think a company’s market cap will be higher than the grey market price, you’ll ‘buy’. If you think it will be lower than the grey market price, you’ll sell.

BrewDog makes money through sales of its craft beers – through supermarkets, online orders and its own bars and hotel – as well as through its crowdfunding programme Equity for Punks.

Once BrewDog has listed, you can profit by correctly from buying and selling the company’s shares. If you are investing in BrewDog’s IPO, you could only profit by going long – buying the stock in the expectation they will rise in value and you can sell them later at a higher price. Alternatively, trading BrewDog shares with derivative products enables you to take advantage of rising and falling market prices.

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1Based on revenue excluding FX (published financial statements, June 2020).
2We do not offer grey markets on all IPOs.
3Tax laws are subject to change and depend on individual circumstances. Tax law may differ in a jurisdiction other than the UK.