it will then contact a Bookrunner or a lead manager.
The Bookrunner will determine the price range at which it is
The Bookrunner will then send out the draft prospectus to potential investors.
The Bookrunner will determine the price range at which it is
willing to sell the stock.
Although bidding is by invitation, the issuer and Bookrunner retain discretion to give some bidders a greater
Once a company determines it wants to have an IPO,
it will then contact a Bookrunner or a lead manager.
Generally, bidding is by invitation only to high-net-worth clients of the Bookrunner and, if any, lead manager, or co-manager.
At the end of the five days, the Bookrunner determines the demand of the stock for its given price range.
Bids may be submitted online,
but the book is maintained off-market by the Bookrunner and bids are confidential to the Bookrunner.
Although bidding is by invitation, the issuer and Bookrunner retain discretion to give some bidders a greater
allocation of their bids than other investors.
After the close of the book building period, the Bookrunner evaluates the collected bids on the basis of certain evaluation criteria
and sets the final issue price.