Retention

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Retention

The number of units allocated to an underwriting syndicate member less the units held back by the syndicate manager for facilitating institutional sales and for allocation to nonmember firms. In the context of construction contracts, an amount retained from construction contract payments (5-15% of the contract price) to ensure the contractor completes the construction before the retention is returned.

Retention

Prior to a new issue, the percentage of securities given to an underwriting syndicate to place with investors after making allowances for any underwriters that are not part of the syndicate as well as placement with institutional investors.

retention

The securities that are distributed to members of an underwriting syndicate after accounting for the portion of the new issue retained for sales to institutions and members of the selling group who are not also part of the syndicate.
References in periodicals archive ?
A 20 [pounds sterling] late application charge applies to registrants whose retention form and fee arrives after the March 15 deadline, but before March 31.
Applying for retention students must complete and return an application for student retention form, together with the 20 [pounds sterling] fee, by the deadline date if they are to stay on the registers for the next academic year.
or face a 20 [pounds sterling] penalty, Registrants who return their retention form with the 219 [pounds sterling] fee after the March 15 deadline but before March 31 will be subject to a 20 [pounds sterling] late application charge.