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Western Account
(redirected from Western Accounts)

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Western Account
An offering of a new issue in which underwriters are liable for placing only a certain percentage of the total offering. An underwriting firm is not liable for placing unsold portions of the issue from other underwriters. For instance, suppose an underwriting firm is responsible for placing 15% of an issue and does so. If the entire issue is not placed, the firm is not responsible for placing any of the unsold portion of the issue. This contrasts with an Eastern account, in which the whole syndicate of underwriters is jointly and severally responsible.
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There is very little institutional activity in Dubai and Abu Dhabi, most of the western accounts have downed tools for the year," said Julian Bruce, director of institutional equity sales at EFG Hermes.
Tadawul, Dubai stocks edge higher by Arab News (Jeddah, Saudi Arabia)
Mr Jones' accounts of what was happening in Soviet Ukraine in 1932/33 were different from other western accounts.
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It critiques Eurocentric biases in several leading Western accounts of the rise of the global economy.
Our Eurocentric Lives by Khaleej Times (Dubai, United Arab Emirates)
 
 
 
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