In underwriting, the sale of a large block of a security to a single investor. The lead underwriter handles a directed sale and withholds shares in the block from other members of the underwriting syndicate.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
The sale of a block of stock to a single buyer as part of a new issue. Shares for a directed sale are withheld by the lead underwriter from members of the underwriting syndicate.
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.