Underwriters, actual or potential, often seek out and "circle" investor interest in a new issue before final pricing. The customer circled has basically made a commitment to purchase the issue if it is available at an agreed-upon price. If the actual price is other than that stipulated, the customer supposedly has first offer at the actual price.
A process used in finding interested buyers of a new security issue before determining the final price. A potential customer will be given a preliminary price (for example, the interest rate for a bond or the selling price for a stock) and will commit to a purchase if the issue is actually priced at the preliminary estimate. A different price permits the customer to back out or to get the first chance to buy the issue at the new price. Compare indication of interest.
Knights then starred in the last quarter for Wasps, stealing the ball in the defensive circle and capitalising on loose passes from Sirens to disrupt their attacking play.
A solid partnership of Tracey Evans and Leanne Quartley in the defensive circle managed to pick off weaker passes from the Stockton attackers and Dani Walker's speed though midcourt enabled these balls to be worked up court, making them count.
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