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.

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.

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References in periodicals archive

The sky's nightly rotation and the seasonal displacement of Frigg's Distaff put the passage of time on public display and mirrored the business of spinning thread.

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"To have tow on the distaff" means to have a job to do in old English, but it was spelt "distaef" and identified in the dictionary as a staff holding flax for spinning.

Spinning an ideal way to stop women being idle . . .; ANCIENT YARN: Household trade that became very fashionable

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Johnny Arcilla and PJ Tierro renew their rivalry in the men's division while sisters Clarice and Christine Patrimonio forged a title duel in the distaff side in the PPS-PEPP Brookside Open at Brookside Hills Tennis Club in Cainta over the weekend.

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Of the 42 entries made for the stayers' race only five are eligible for the Rest of the World team while just six of the 32 entries in the Distaff race could not be part of the European team.

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In the distaff side, WGM Janelle Mae Frayna opened her bid for the lone slot to the Women's World Championship cycle with a victory over fellow national player WIM Beverly Mendoza.

Antonio, Pacis grab early lead