Targeted registered offerings

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Targeted registered offerings

Securities issues sold to "targeted" foreign financial_institutions according to U.S. Securities and Exchange Commission guidelines. These foreign institutions then maintain a secondary market in the foreign market.

Targeted Registered Offerings

New issues of a security in the United States that are sold to foreign companies and investors in accordance with SEC guidelines. These foreign companies and investors provide a secondary market for the targeted registered offerings in their own countries.

References in periodicals archive ?

Among such securities are those issued under a specialized Securities and Exchange Commission (SEC) procedure, called the "targeted registered offering." As the name suggests, this offering procedure targets a clientele of foreign investors -- in particular, those who find security-ownership registration unattractive.

Euroequity, the focus of this paper, is a recent financial innovation applying the targeted registered offering procedure to corporate stock.

The first section describes the targeted registered offering procedure.

To be classified as a targeted registered offering, an issue must satisfy four conditions: the registered owner overseas must be a financial institution; interest coupons or dividends must be paid to the institution outside the U.S.; the issuer must certify that it has no actual knowledge that a U.S.

On the integration of international capital markets: evidence from Euroequity offerings