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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
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.
References in periodicals archive ?
BRIAN POTTER'S footballing world turned full circle in the summer when he was appointed goalkeeping coach at East Fife - at the age of only 27.
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"After a cold call to James (on the advice of a mutual contact), my career path turned full circle when I was offered the auctioneer role with Sutton Kersh.
THE wheel of politics seems to have turned full circle with Blair taking Labour policies to the far right and Cameron saying he'll defend the NHS.
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After applying pressure with a string of short corners, Standard were caught on the break when a visiting forward enticed keeper Paul Cook from his goal and turned full circle to fire in a shot.
FOOTBALL'S wheel of fortune turned full circle for Coleraine hitman Shane McQuillan.
Today, the wheel has turned full circle, and volume production is back at the site.