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 ?
In recent decades around the world, drum circles have been started to promote physical and emotional healing and, on the corporate level, to build teamwork and boost morale.
In his study, eighth grade students in Chicago who were in classrooms where literature circles strategies were used scored 10 percent higher than students in other city schools on the city-wide reading test (Daniels, 2002, p.
6 Overlap the holes labeled "B" and use tape to form a circle.
Because serious dark circles are so difficult to address (just take a look in the mirror after lunch .
Weeks agrees that the absence of matching circles would kill the dodecahedron model.
Raccoon Circles bring people together in a variety of ways, and this activity illustrates that point.
The Bolivarian Circles are apparently modeled after Fidel Castro's CDR (Committee for the Defense of the Cuban Revolution, or Revolutionary Block Committees).
Six of the circles are drawn just inside the sideline on either side of the field.
The constraints placed on people's lives may be thought of in terms of circles," the director said.
Since many municipalities and states have their own rules regarding traffic entering such Circles, the international flavor of the taxi drivers, tourists, residents and pedestrians means they all may have different ideas about what they are supposed to do while driving and walking.
Oh, Gazecki has found the circles themselves, hundreds of them, plastered throughout the loftily titled film ``Crop Circles: Quest for Truth'' like a majestic array of aerial post cards.
The geometric realm of circles seems an unlikely setting for a startling mathematical discovery.