What's going on?

There are two highly anticipated initial public offerings (IPO) expected to hit the UK�s stock market as soon as this month, and investors are hoping they get exactly what they ordered.

What does this mean?

First up, Trustpilot: the Danish customer review platform is set to sell at least a quarter of its shares, aiming to value the entire business at $1.4 billion. And it looks like some of the world�s biggest investors rate the opportunity very highly indeed, with Fidelity and BlackRock already having promised to buy in.

Then there�s Amazon-backed Deliveroo, which is expected to be worth around $10 billion after its IPO. Investors keen on profitable companies might be put off by last year�s $309 million loss, sure, but others might give the food delivery company credit for having brought that figure down from a $440 million loss in 2019.

Why should I care?

For markets: Investors aren�t as powerful as they used to be.

Now the UK�s greenlit a more flexible IPO structure, investors in some British companies are going to have to get used to �dual share classes�, which give founders and managers more control than the average investor. They�re already common among US firms like Alphabet, Snap, and Berkshire Hathaway, and now it�s Deliveroo�s turn to try them on for size: the company�s founder will have 20 times the power per share than its new shareholders for the first year.

The bigger picture: China�s getting stricter.

While UK regulators giveth, Chinese regulators taketh away: ecommerce giant JD.com is all set to cancel the mooted $3 billion IPO of its financial services business, according to reports on Monday. China�s crackdown on internet-based finance firms also hit Alibaba�s Ant Financial last year, and it�s starting to make other companies reconsider if they really want to open themselves to scrutiny by going public too.