t******0
发帖数: 171 | 1 Securities underwriting refers to the process by which investment banks
raise investment capital from investors on behalf of corporations and
governments that are issuing securities (both equity and debt capital).
This is a way of selling a newly issued security, such as stocks or bonds,
to investors.
A syndicate of banks (the lead-managers) underwrite the transaction, which
means they have taken on the risk of distributing the securities. Should
they not be able to find enough investors, they w | f**********r
发帖数: 2137 | 2 underwriter sell stock/bonds to large investors like pension fund, mutual
funds, and these funds sell to individuals in secondary markets
underwriters take positions too and sell in secondary markets
【在 t******0 的大作中提到】
: Securities underwriting refers to the process by which investment banks
: raise investment capital from investors on behalf of corporations and
: governments that are issuing securities (both equity and debt capital).
: This is a way of selling a newly issued security, such as stocks or bonds,
: to investors.
: A syndicate of banks (the lead-managers) underwrite the transaction, which
: means they have taken on the risk of distributing the securities. Should
: they not be able to find enough investors, they w
| f**********r
发帖数: 2137 | 3 investors here are not you and I, but institutions. primary market is for
raising money, secondary market for trading and liquidity
【在 f**********r 的大作中提到】
: underwriter sell stock/bonds to large investors like pension fund, mutual
: funds, and these funds sell to individuals in secondary markets
: underwriters take positions too and sell in secondary markets
| m**********g
发帖数: 434 | 4 only IB can be the underwriter?
【在 f**********r 的大作中提到】
: underwriter sell stock/bonds to large investors like pension fund, mutual
: funds, and these funds sell to individuals in secondary markets
: underwriters take positions too and sell in secondary markets
| f**********r
发帖数: 2137 | 5 yes
【在 m**********g 的大作中提到】
: only IB can be the underwriter?
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