14:11 Jul 9, 2020 |
French to English translations [PRO] Bus/Financial - Investment / Securities | |||||||
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| Selected response from: Suzie Withers United Kingdom Local time: 12:30 | ||||||
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Summary of answers provided | ||||
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4 +1 | underwriter |
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3 | Lead manager |
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Discussion entries: 1 | |
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underwriter Explanation: It is the underwriter that sells the IPO shares in the secondary market. But the new shares sold in the market are the issuing company's. Underwriting Once a corporation hires an investment bank, that firm becomes the underwriter for the company's initial public offering, or IPO. Underwriting involves placing an overall value on a business organization as well as acquiring shares at a discount to later be DISTRIBUTED IN THE PUBLIC MARKETS. Depending on the size of an IPO, it is not uncommon for multiple investment banks to underwrite the new issue, with one firm serving as the lead underwriter. Source: https://finance.zacks.com/investment-bankers-organizations-p... -------------------------------------------------- Note added at 4 hrs (2020-07-09 19:07:42 GMT) -------------------------------------------------- The underwriter in a new stock offering serves as the intermediary between the company seeking to issue shares in an initial public offering (IPO) and investors. The underwriter helps the company prepare for the IPO, considering issues such as the amount of money sought to be raised, the type of securities to be issued, and the agreement between the underwriter and the company. The underwriter creates a draft prospectus to take on a road show to potential institutional investors. The road show seeks to create excitement for the IPO and involves conferences given to investors around the country. After the road show, the underwriter and company determine of the final price for the IPO based on the orders received during the road show. Then, the syndicate allocates shares to investors. The final step is the first day of trading, when the investing public can first buy the stock on an exchange. Source: Investopedia |
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Lead manager Explanation: I think Lead manager could be used here - see this article which outlines the various roles involved in an IPO https://uk.practicallaw.thomsonreuters.com/1-550-3627?transi... |
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