Syndicate Bid

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Syndicate Bid

An order by a managing underwriter to buy or sell a security immediately before a secondary offering of the same security. The managing underwriter makes a syndicate bid in order to stabilize the price of the security, which will make the secondary offering easier to place with investors. This is only permissible under certain defined circumstances set forth in SEC Rule 10b-7.
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Brocklebank's eight-strong syndicate bids to capture the pounds 804,020 bonus fund that rolls over from last week, when Stuart Bolland who, like Brocklebank, is from Greater Manchester, missed out on the pot.

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