Sub-underwriter

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Revision as of 08:27, 20 August 2013 by imported>Doug Williamson (Spacing 20/8/13)
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A member of a new issue syndicate who agrees to buy a certain proportion of the issue from the managers should the issue be undersubscribed.

They receive an underwriting fee and a selling concession on the principal amount of the securities for which they may subscribe.


See also