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 ?
Some experiences to consider for dad include a golf lesson with a pro, a guided fly and spin fishing trip, a seaplane adventure, private scotch or cognac tasting or a baseball and boating double header and much more.
Leena and Larry Lauman of Manhattan Beach are spin fishing with their miniature pinscher, Moose, who's sporting a doggie life preserver and takes a dip occasionally.
Spin fishing with lures is allowed in the catch-and-release area, but fly fishing is more popular, Elmer said, "because the river really works as a fly stream because there is so much surface activity, especially late in the year.