Lead underwriter

Lead underwriter

The head of a syndicate of financial firms that are sponsoring an initial public offering of securities or a secondary offering of securities. Could also apply to bond issues.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Lead Arranger

In investment banking, an underwriting firm that leads a syndicate. A syndicate is a group of underwriters responsible for placing a new issue of a security with investors. Every syndicate is a temporary arrangement. The lead arranger assigns parts of the new issue to other underwriters for placement and usually takes the largest part itself. It is also called a managing underwriter or a syndicate manager or, less formally, a book runner.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

lead underwriter

The main underwriter of a new security issue. The lead underwriter forms a distribution system to sell the security issue and is generally responsible for the largest part of the offering. Also called house of issue, managing underwriter.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

Lead underwriter.

When a company wants to raise capital by selling securities to investors, it partners with an investment bank, known as the lead underwriter.

That bank has the primary responsibility for organizing and managing an initial public offering (IPO), a secondary stock offering, or a bond offering.

In the case of an IPO, the lead underwriter agrees to buy some or all the shares from the company and helps it determine an initial offering price for the security, create a prospectus, and organize a syndicate of other investment banks to help sell the securities to investors.

In return for assuming the financial risk of the IPO, the lead underwriter receives a fee, which is usually a percentage of the price of each share of the IPO.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
as the joint global coordinators, joint bookrunners, and joint domestic lead underwriters. Maybank Kim Eng is also the international lead underwriter.
Credit Suisse is the lead underwriter for the offering, while Haitong International, CLSA, China Investment Securities International and 9F Primasia Securities are co-managing the offering.
XL Catlin Names Snyder Lead Underwriter for Construction Excess Casualty in Southeast
The underwriters were led by Cantor Fitzgerald Canada Corporation, acting as sole lead underwriter and book-running manager and including Cormark Securities Inc, BMO Capital Markets and Roth Capital Partners LLC.
Trilogy Metals is pleased to announce that it has entered into an underwriting agreement with a syndicate of underwriters led by Cantor Fitzgerald Canada Corporation, acting as sole lead underwriter and book-running manager, and including Cormark Securities, BMO Capital Markets and Roth Capital Partners, under which the Underwriters have agreed to buy on a bought deal, underwritten basis 21,551,724 common shares of the Company at a price of $1.16 per Offered Share for aggregate gross proceeds of approximately $25M.
It allows HSBC to act as a joint lead underwriter for 'Panda bond' issuances by offshore non-financial corporates.
7 August 2012 - Bank of China (HKG:3988;SHA:601988) has been mandated book-runner and lead underwriter for the upcoming notes offer of China Electronics Corp, the state-run IT company said today.
The San Francisco-based company has hired Goldman Sachs Group Inc (NYSE: GS) as its lead underwriter.
Nomura has recently been hit by a scandal involving insider information leaks at its key arm Nomura Securities Co., with major firms not naming the brokerage house as a lead underwriter in issuing new shares.
Specifically, our study tries to analyze whether the factors that influence a firm's loyalty to the same lead underwriter during its first SEO also explain such loyalty for its second and third SEO.
The acting lead underwriter for the offering is Craig-Hallum Capital Group while the co-manager is Stonegate Securities.
The lead underwriter for the deal was Capital Securities Corporation (Capital Securities) (6005.TW).