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 ?
Florida Bible College is coming full circle and returning to its roots, having been established in 1962 in the facilities of another church, Grove Community Church, in Miami.
This is directed by Fernando Meirelles who gave us the similarly cold Blindness, but this is worse, with its laborious structure and dreadful script about forks in the road and lives coming full circle.
A spokeswoman for the survey said: "Young women's attitudes towards the age they marry are coming full circle - only 15% of young women now think '30 or over' is the best age to marry and only 27% think it's best to have a first child 'after 30'.
Using an evaluation decision-making model throughout, Brun analyzes the scope and purpose of evaluation, the process of negotiating with stakeholders as part of the politics of evaluation, the process of combining values, theory and data, and coming full circle by creating the final report.
Coming full circle, the musical was a spoof of the 1936 movie ``Tell Your Children,'' a church-group-produced film about the dangers of marijuana.
It's hard for me to explain but it does feel like I'm home, like coming full circle,' says Donny.
Central to the success of the work was the ingenious, ever-changing set, a small caravan fitted out with tied fabrics and fir branches that revolved slowly for the entire piece, coming full circle by the dance's end.
In joining Homestead, I am coming full circle, developing exciting new tools to give patients more options and a chance for better outcomes by advancing the technologies that will enable early intervention.