LEAD UNDERWRITER
An investment bank or a financial firm that has a primary directive to organize an initial public stock offering or a secondary offering of securities, which are publicly traded. Usually, the lead underwriter will collaborate with other lending firms to form the syndicate and create the initial sales force to negotiate terms with the issuer, and assess market conditions.
The underwriter will evaluate the company financials and present market conditions to come up with the initial value and number of shares. Then, they will sell the shares to institutional and retail clients. The sales commission ranges from 6-8% for the underlying syndicate; while the lead underwriter holds the majority of shares.
Also known as lead manager, managing underwriter, and syndicate manager; less formally, a book runner.
POPULAR TERMS
Target Return
Remainder Man
Average Collected Balance
Bankable Funds
Prudent-Person Rule
POPULAR ARTICLE
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 04:00 | Expected Annual Inflation 2y from now | 4 quarter | |
| 07:00 | Economy Watchers Survey | Oct | |
| 10:30 | New Yuan Loans | Oct | |
| 01:30 | Westpac Consumer Sentiment | Nov | |
| 01:50 | M2 Money Supply + CD | Oct | |
| 02:30 | NAB Business Confidence | Oct | |
| 08:00 | Prelim Machine Tool Orders | Oct | |
| 09:00 | CPI | Oct | |
| 09:00 | Harmonized CPI | Oct |
