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 ?
Variations in Cerebral Arterial Circle of Willis in Adult Pakistani Population.
Paddison, "Anatomical studies of the circle of Willis in normal brain," Archives of Neurology and Psychology, vol.
The base of brain was cleaned by removing the arachnoid and the component of Circle of Willis was dissected out.
Influence of the collateral function of the circle of Willis on hemispherical perfusion during carotid occusion as assessed by transcranial colour-coded duplex ulrasonography.
All had ectasia and aneurysms confined to the large arteries of the circle of Willis. The consistent histological findings were intimal thickening, destruction of the internal elastic lamina, loss of muscularis and medial fibrosis.
Relationship between variations in the circle of Willis and flow rates in internal carotid and basilar arteries determined by means of magnetic resonance imaging with semia utomated lumen segmentation: reference data from 125 healthy volunteers.
(17.) Puchades Orts A, Gomez Nombela N, Pacheco Ortuno G: "Variations in form of circle of Willis, some anatomical and embryological considerations." Anat Ree May vol.
Fukui, "Guidelines for the diagnosis and treatment of spontaneous occlusion of the circle of Willis (Moyamoya disease)," Clinical Neurology and Neurosurgery, vol.
(3) in patients with a hematocrit percentage exceeding 60%, both Circle of Willis and dural sinuses are hyperdense on NECT scans of brain.
In an autopsy study of the circle of Willis of 1021 cadavers in India, only two aneurysms were found (Bombay Hospital Institute of Medical Sciences, 1993).