Before an issue, the arranger agrees a range of conditions with the company, on the basis of which the banks in the syndicate already hold talks with potential investors. The aim of this roadshow is to obtain a better assessment of the placement power of the issue, i.e. to establish a purchase price range. Once the terms have been fixed, the participating banks undertake not to sell their respective share of the issue in the primary market for less than the agreed price. – See Bookrunner, Bought Deal, Underwriting, Underwriting House, Initial Purchaser, Underwriting Syndicate, Concert Underwriter, Market Making, Roadshow, Secondary Offering, Underwriter, Securities Issues, Securities Sales Prospectus, Admission Board, Secondary Placement.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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