Republic Europe facilitates a Secondary Market whereby investors can buy and sell shares from each other online.
Step 1. Go to the Sell shares page
You can submit items for sale on this page https://europe.republic.com/portfolio/sell.
Typically, you can access it by going to the portfolio page and selecting the "Sell Share" tab. In the new portfolio beta version, once you select an asset, you will see information about that asset along with a section referring to the secondary market. Click on "Sell," and that will direct you to the same page.
Step 2. Complete the Sell share form
Once you are on the sell page, you can set your criteria for selling:
Select a business. If the business is ineligible, you will most likely be unable to list it for sale.
Next, choose the number of shares you want to sell. You can select all shares or input a specific number. You may see multiple rows here if you invested in multiple rounds, or if there are different records. It’s up to you to decide whether to sell the oldest assets or the newest ones. Please note: if you have any assets with EIS/SEIS and sell them within the first three years, you may lose your tax relief.
Set your listing price. You can choose how much you want to list your shares for—whether at the current share price, a premium, or a discount. You can visit the business page to see what other sellers are listing their shares for.
Finally, you will see a summary of what you are selling and how much you will receive. You will need to agree to our Terms and Conditions and the agreement to complete the submission.
▶️ Watch this video for a detailed explanation of the Sell Share form
Step 3. Agree to the sale once buyer is found
You will receive an email once a buyer is found.
⚠️ You must confirm the sale within 3 days. If you cancel or don't respond, you won't be able to list shares in the same business for 60 days.
Step 4. Wait for the buyer to sign the agreement
Buyers also have 3 days to sign the beneficial transfer ownership agreement. Once completed and payment are cleared, the shares and fund will be exchanged.
Step 5. Shares transferred and funds added to your investment account.
You will receive an email notifying you of the completed transaction, and the funds have been added to your investment account. You can request a withdrawal or use the credit to reinvest.
Please note that not all shares are eligible for the Republic Europe Secondary Market and also that the ability to trade shares will greatly depend on demand. A more comprehensive rundown of what makes a business ineligible to be traded on the Secondary Market can be found in our article 'Why are businesses / share lots ineligible?'. It is also important to note that investors should not assume that an early exit / sale will be available just because a secondary market exists.
Investing in the types of businesses hosting campaigns on Republic Europe should be seen as a long-term investment activity. It’s also worth noting that you will lose all associated SEIS or EIS tax if you sell your shares within three years of investing.
Selling publicly listed shares
If you'd like to sell shares from businesses listed on public market exchanges you can also submit your request through the 'Sell shares' tab in the Portfolio as detailed above - our team will then proceed to contact you for info and will list the shares for sale on the public exchange market through our broker, Canaccord.
Fees apply - for more information please read our Help Centre article about fees.