Anthropic IPO Subscription Guide: How Non-US Investors Can Buy ANT Stock?

TradingKey - Anthropic is advancing its initial public offering (IPO), planning to allocate up to 20% of the offered shares to retail investors across the U.S. and select overseas markets, providing investors who meet local eligibility criteria with the opportunity to purchase shares at the IPO offer price.

According to Anthropic's Form S-1/A registration statement filed with the U.S. Securities and Exchange Commission (SEC) on November 10, 2026, the company plans to publicly offer 825 million shares of Class A common stock, with approximately 801 million shares to be sold by the company and the remaining roughly 23.65 million shares coming from existing shareholders.

The preliminary offering price is $70 to $78 per share, with plans to list on Nasdaq under the ticker symbol "ANT" as early as the week of November 16.

The international offering covers Australia, Canada, Japan, the UK, Switzerland, and select European Economic Area countries. However, different offering restrictions exist in markets such as Hong Kong and Singapore, meaning not all overseas retail investors can directly participate in the IPO subscription.

For overseas investors, there are three primary ways to participate: subscribing to the IPO through local authorized brokers, submitting indications of interest via Kraken IPO Access where regionally eligible, or purchasing shares through U.S. brokerages after ANT is listed.

How Non-US Investors Can Subscribe to Anthropic IPO?

Anthropic has announced its list of brokers and selling agents for its international retail offering. Subscription channels vary across regions, and investors should prioritize applying through the institutions officially announced by the company.

[Source: Anthropic]

Investors in Europe, the UK, and Switzerland

Countries in the European Economic Area (EEA) currently open to the retail offering include Denmark, Finland, France, Germany, Ireland, the Netherlands, Norway, Spain, and Sweden, while Switzerland also has a separate retail offering arrangement.

The UK retail offering will be coordinated through the RetailBook platform, which is regulated by the UK Financial Conduct Authority (FCA), with subscription services provided by its partner intermediaries.

It should be noted that a broker's inclusion on the official list does not mean all of its clients are eligible to participate. Swiss investors must also meet local retail investor qualification requirements, while EEA investors must comply with the offering conditions in their respective countries.

Investors in Japan, Australia, and Canada

These three markets are also included in Anthropic's international retail offering arrangements.

Japanese investors can learn about subscription arrangements through institutions such as Mizuho, Rakuten, and SBI; Australian investors can look to platforms such as CommSec, Macquarie, and Stake; while Canadian investors can check offering services from institutions such as RBC, BMO, and Wealthsimple.

The above lists are sourced from Anthropic's official international retail offering page. The company explicitly stated that in these regions, it has not authorized platforms outside the list to promote or provide subscription services for this international retail offering.

How Can Investors in Hong Kong, Singapore, and Other Asian Markets Participate?

Anthropic's international retail offering does not cover all Asian markets. Investors in Hong Kong, Singapore, and Taiwan also face different subscription restrictions.

Hong Kong, China: Hong Kong is not included in the list of jurisdictions for Anthropic's international public offering, and the officially announced list of international retail brokers does not include any local Hong Kong institutions. Therefore, it currently cannot be confirmed whether regular retail investors in Hong Kong can directly participate in the IPO subscription, and specific channels remain subject to broker announcements and local regulatory rules.

Singapore: The offering documents have not been registered with the Monetary Authority of Singapore (MAS) and are not being offered to the local public. Under Sections 274 and 275 of Singapore's Securities and Futures Act, only eligible institutional investors and accredited investors may participate in the subscription pursuant to relevant exemptions.

Taiwan, China: Anthropic's offering has not been registered with Taiwan's Financial Supervisory Commission, nor has the company authorized local institutions to provide stock sales or subscription services. Therefore, no public offering requiring registration or approval may be conducted in Taiwan.

Therefore, investors in Hong Kong, Singapore, and Taiwan cannot directly use retail subscription channels in markets such as Japan and Australia, and must verify their eligibility based on local regulations and broker authorizations.

Kraken ANTx: Another Way for Overseas Investors to Participate in Anthropic IPO

In addition to officially announced international brokerages, eligible overseas investors can also use Kraken IPO Access to submit indications of interest for the Anthropic IPO.

Investors must hold a verified Kraken account and complete the xStocks verification required for their region. Subscriptions are conducted via the Kraken app, website, or Kraken Pro, supporting USD, USDC, and USDG, with pricing set at the IPO offering price plus a 5% spread.

It should be noted that subscriptions do not guarantee an allocation, which is ultimately determined by the IPO underwriters based on demand, and investors may receive a full, partial, or zero allocation. Unallocated funds will be refunded on the day of listing.

Geographically, the service is open to the European Economic Area and most eligible global markets, but excludes the United States, the United Kingdom, Canada, Japan, Australia, New Zealand, and sanctioned regions, with specific eligibility subject to what is displayed in the Kraken account.

ANTx is a tokenized stock product issued via xStocks, which is not equivalent to directly holding Anthropic Class A common stock and does not confer shareholder voting rights. Corporate actions such as dividends are reflected through a token adjustment mechanism.

Anthropic IPO Pre-Subscription Checklist for Overseas Investors

Before submitting a subscription application, investors should confirm the following:

1. Residency Eligibility: Confirm whether Anthropic's international retail offering is available in your country or region.
2. Broker Authorization: Verify whether the broker has received selling authorization for Anthropic's IPO.
3. Account Requirements: Confirm minimum asset requirements, investor qualifications, and account-opening conditions to avoid being unable to subscribe due to unmet criteria.
4. Offering Price: The preliminary offering price is $70 to $78 per share, with the final price subject to the official offering documents.
5. Allocation Rules: The retail allocation is up to 20%, which does not mean all applicants will receive shares; final allocations may be in full, partial, or zero.
6. Taxes and Fees: Prepare applicable tax documents such as Form W-8BEN based on residency and broker requirements, and confirm subscription fees, remittances, and related tax obligations.

Unable to Participate in IPO: How to Buy ANT After Listing?

Investors unable to participate in the IPO subscription or who do not receive a share allocation can purchase ANT through brokerages that support US stock trading after Anthropic lists on Nasdaq.

US retail IPO distribution channels include Charles Schwab, Fidelity, Robinhood, SoFi, E*TRADE, and TradePMR. Overseas investors need to confirm whether brokerages support ANT trading for clients in their region.

The key differences between IPO subscription and post-listing purchases are as follows:

ANT may experience significant price volatility during the initial listing period, and actual execution prices may be higher or lower than the IPO offering price. Investors unable to obtain an allocation can wait until the stock price stabilizes before considering a purchase.

In addition, ANT is the Class A common stock that Anthropic plans to list on Nasdaq, whereas ANTx is a tokenized stock product offered by Kraken, and the two differ in ownership rights and trading methods.