Sub-underwriter

From ACT Wiki
Revision as of 09:21, 13 September 2017 by imported>Doug Williamson (Link with Underwriter.)
Jump to navigationJump to search

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