Spinning

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Spinning

In investment banking, the practice of an investment bank setting aside portions of a corporation's Initial Public Offering for senior management of that corporation. Ethically questionable practice which appears to be a form of bribery.

Spinning

The act or practice of an underwriting or brokerage firm giving shares of an IPO, especially a popular issue, to major executives in some company unrelated to the company issuing the IPO. These executives return the favor by recommending that their clients do business to the underwriter or broker. The relationship is mutually beneficial because the executives profit from the shares in the IPO and the underwriter or broker profits from the new business. However, it is controversial and some believe spinning to be unethical. Spinning should not be confused with spinning off, which is a different concept altogether.

spinning

The allocating of shares of a hot initial offering by a securities firm to the personal account of a corporate executive in anticipation of gaining future business from the executive's firm.
References in periodicals archive ?
The Beldame Stakes and the Ladies Classic (as the Breeders' Cup Distaff is now known) are set to feature on both their agendas.
We've got to see where we belong before we can think of anything else," trainer Carl Nafzger said of the race and the possibility of a start in the Breeders' Cup Distaff.
Victory in the Breeders' Cup Distaff by more than six lengths at four was the highlight of a season which saw her Grade 1-placed on six occasions, earning her a second Eclipse, this time as champion older female.
Dark Missile, who enjoyed her finest hour when capturing the Wokingham Handicap at this year's Royal Ascot, will be bidding for back-to-back Shergar Cup Distaff victories, after her success in the 6f handicap last year.
In a further blow to the card, the Distaff race has attracted only 13 five-day entries, just three more than the ten runners required if all 12 jockeys are to fulfil their designated quota of mounts.
FLEET INDIAN, who suffered career-ending injuries in last year's Breeders' Cup Distaff, has been confirmed in foal to Storm Cat, according to the Daily Racing Form.
The second female star was the admirable US filly Personal Ensign, whose Distaff victory on the final outing of her career outshone even Miesque for the locals.
There was a dominant victory by Princess Rooney in the Distaff, a North American-record clocking by Royal Heroine in the Mile and a championship-clinching win by Chief's Crown in the Juvenile.
My Trusty Cat ($23) and Javier Castellano won the Humana Distaff Handicap as 2-5 Madcap Escapade faded off the board.
PLEASANT HOME called 'time' on any suspense left in the Breeders' Cup Distaff when dashing off towards the winning post without waiting for her battling rivals.
Yep, ``Beauty Shop'' is distaff ``Barbershop'' all the way.