Pre-Orders

What is a Pre-Order?

Pre-Order is a feature that provides Urby users the opportunity to reserve shares of an upcoming listing that has not officially been completed yet. You may think of it as an expression of interest, or subscribing to an upcoming Initial Public Offering (IPO) in order to guarantee your allocation in the listing.
Properties that are open for Pre-Order will be clearly indicated in the New Drop section of the app. As Pre-Order properties start and progress through different stages of the acquisition and closing process, information available for Pre-Order properties will differ between properties, but increase over time the closer to completion the property gets.
User funds will not be used in any way to purchase or secure the purchase of properties. Our listing partners are still required to utilise their own resources to acquire and upcycle the properties prior to a property listing.
Pre-Order shares are similarly pegged to the listing price of RM10 (excluding discounts).

A common ask from our users has been for us to onboard new properties quicker and for a wider selection of properties to choose from in different neighborhoods.
Pre-Order allows us to address this topic by providing our users with more opportunities for potential investment.

Pre-Order provides users an opportunity to secure their desired allocation of shares for their chosen properties as early as possible.
Attractive discounts may be provided for shares under Pre-Order.

When you select a Pre-Order property, we will lock a portion of your available balance equivalent to the cost of the shares you’ve reserved.
If there is any change in the terms of your purchase, we will notify you.
When the property is launched, Urby will reserve shares for you based on your pre-order and upon listing of the property we will finalise the transaction using the funds that we had previously locked as part of your Pre-Order.
Reserving shares through Pre-Order requires that users have sufficient funds in their available balance to execute the eventual share purchase.
At any point before the purchase of shares is finalised, you can cancel your Pre-Order. Cancelling a Pre-Order will unlock the funds reserved and returned to your available balance.
Once you cancel your Pre-Order, there is no guarantee that you would be able to reserve those shares again, as it is dependent on availability of shares allocated for Pre-Order and demand for these shares.

Funds that are locked for Pre-Order may not be withdrawn from Urby or used to purchase other properties. This represents a potential opportunity cost to the user.
There is the possibility that the purchase of a property under Pre-Order does not complete and a listing does not occur. In this scenario, your funds reserved under Pre-Order will be unlocked and reflected in your available balance.
Depending on the stage a Pre-Order property is in the acquisition and completion process, not all information on the property might be known such as the eventual purchase price. This introduces uncertainty into the fractionalisation process and may affect the total number of shares that will eventually be listable under Urby.
If upon completion of a listing there are insufficient shares to fulfill all Pre-Orders, share reservations will be fulfilled on a first come, first serve basis on when Pre-Orders were submitted.

For Pre-Order properties which are far enough along in the acquisition process that allows us to determine all the terms of the final listing. Submitting the Pre-Order will require acceptance of the following documentation:

These Pre-Orders will then be automatically fulfilled upon the actual property listing when the PSCs are issued, and your requested number of shares will be reflected in your portfolio. You will not be required to take any further action.
You are still free to cancel your Pre-Order at any time before the Pre-Order property is listed.