LEAD UNDERWRITER
An investment bank or a financial firm that has a primary directive to organize an initial public stock offering or a secondary offering of securities, which are publicly traded. Usually, the lead underwriter will collaborate with other lending firms to form the syndicate and create the initial sales force to negotiate terms with the issuer, and assess market conditions.
The underwriter will evaluate the company financials and present market conditions to come up with the initial value and number of shares. Then, they will sell the shares to institutional and retail clients. The sales commission ranges from 6-8% for the underlying syndicate; while the lead underwriter holds the majority of shares.
Also known as lead manager, managing underwriter, and syndicate manager; less formally, a book runner.
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SEE FOREX TUTORIAL
Retirement Planning: Maximizing the Power of Compounding
Principles of Trading: Leverage and Margin
Digesting Financial Statements: Cash Flow
Retirement Planning: Creating a Nest Egg
A Guide to Your Personal Income Tax: Last-Minute Moves
ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 02:30 | PMI Manufacturing | Nov | |
| 02:30 | Company Operating Profits | 3 quarter | |
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| 03:45 | Markit Final Manufacturing PMI | Nov | |
| 07:30 | Commodity Prices | Nov | |
| 09:30 | Retail Sales | Oct | |
| 10:15 | PMI Manufacturing | Nov | |
| 10:45 | PMI Manufacturing | Nov | |
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