Circle

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Related to circle the wagons: circle the waggons

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 ?
For many the Republican takeover of Congress reinforces a tendency to circle the wagons around Clinton in the vain hope that he'll do something other than capitulate.
While we agree with JD that there will be no "starter gun" for the collapse, we think a time may come to circle the wagons.
Commenting on Ormet's plan to idle the rolling mill and reduction facilities, liquidate working capital from these facilities, and circle the wagons around the Burnside Alumina Refinery, the report notes that "In recent years Burnside has operated only during periods of high alumina prices.
It's not a makey-uppy, 'Let's get them going here, let's circle the wagons and let's do it for Diarmuid' type of thing.
But they won't because the councillors will want to circle the wagons and protect themselves, probably thinking up bigger and better titles like 'councillor for super council sports and regeneration'
I circle the wagons with my other survivor friends and we go over the battle plans a FIVE-HUNDREDTH time, figure out where our dead friend that we love and mourn deviated, and we prepare to greet the coming day in a manner that will give something other than our addictions a fair shot at killing us," Delaney said.
We are going to have to circle the wagons in the dressing room.
The researchers go on to indicate that negative feelings may send a signal that it's time to circle the wagons and stick with the "tried and true".