Circle


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Circle

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.

Circle

Informal; to attempt to find investors for underwriting purposes. Before a new issue, underwriters circle potential investors, who may or may not book an order to buy a portion. Potential investors are provided with a preliminary prospectus if they are circled and indicate interest. It is important to note that circling is non-binding because it is illegal to sell a security that has not been issued. See also: Overbooked, Underbooked, Fully Subscribed, Indication of Interest.

circle

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.
References in periodicals archive ?
Using the same process, the other circle may be inscribed on the left of the perpendicular.
Google Earth is now allowing its users to not only just see land and sea, but also crop circles.
Literature circles (lit circles) have been identified as one means of providing a collaborative educational experience.
12 Readjust the paper to form a circle with the same size you measured in Step 10.
Currently, there are 12 circles made up of people from all walks of life.
The building's defenders have claimed that, even though 2 Columbus Circle is an admittedly odd work of architecture, it should be preserved because of its unique role in New York City's history.
This activity requires a single untied Raccoon Circle, stretched into a straight line.
At the news conference, Brown announced that her SAFE Circle (not CPSC's) already has 22 members and 9 supporting members.
The Circle begins in a maternity ward, where an old woman greets the news of her granddaughter's birth with trepidation--her in-laws will be furious that the child isn't a boy, and her daughter risks repudiation by a husband who can divorce her at will.
Beyond the seventh was so wide disclosed That Iris, to enfold it, were too small, Her rainbow a full circle being supposed.
Trace a triangle on the back of each circle. Make sure all three points of the triangle touch the edges of the circle.
The little circle, the little square, and the little triangle were having a great time.