| 释义 |
Negotiated underwriting Negotiated underwritingA securities offering process in which the purchase price paid to the issuer and the public offering price are determined by negotiation rather than through competitive bidding.Negotiated UnderwritingA process in which an issuer of securities approaches an underwriting firm to facilitate a new issue. The issuer and the underwriter negotiate a purchase price, which is the price for which the underwriter buys the new issue, and an offering price, the price at which the underwriter sells the issue to investors. The difference between these forms the underwriter's profit. In negotiated underwriting, these discussions occur on an individual basis between the issuer and the underwriting firm. It contrasts with competitive bidding, whereby a number of underwriters make offers to the issuer, who picks the most favorable offer. |