underwrite securities

简明释义

承销证券

英英释义

例句

1.The firm specializes in underwriting securities for technology startups.

该公司专门为科技初创企业承销证券。

2.Before issuing new stocks, the firm needed to find a broker who would underwrite securities for them.

在发行新股票之前，公司需要找到一个经纪人来为他们承销证券。

3.They were able to successfully underwrite securities and sell them to institutional investors.

他们成功地承销证券并将其出售给机构投资者。

4.The investment bank decided to underwrite securities to help the company raise capital.

投资银行决定承销证券以帮助公司筹集资金。

5.The role of an underwriter is crucial when companies choose to underwrite securities during an IPO.

当公司选择在首次公开募股（IPO）期间承销证券时，承销商的角色至关重要。

作文

In the world of finance and investment, the term underwrite securities plays a crucial role in the process of raising capital for companies and governments. To underwrite securities means that an investment bank or financial institution agrees to purchase a certain amount of securities from the issuer, typically at a fixed price, and then resell those securities to investors. This process is essential for ensuring that issuers can access the funds they need while providing investors with opportunities to invest in various assets.When a company decides to go public by issuing stocks or bonds, it often turns to an investment bank to help facilitate this process. The investment bank acts as an intermediary, assessing the company's financial health and determining the appropriate price for the securities. By agreeing to underwrite securities, the investment bank takes on the risk associated with the issuance. If the securities do not sell as expected, the bank may be left holding unsold shares or bonds, which could lead to financial losses. Therefore, investment banks conduct thorough due diligence before committing to underwrite an offering.The underwriting process generally involves several key steps. First, the investment bank will work closely with the issuer to gather all necessary information about the company, including financial statements, business plans, and market analysis. This information is crucial for setting the right price and understanding the demand for the securities. Once the details are finalized, the investment bank will prepare a prospectus, which is a document that outlines the investment opportunity for potential buyers.After the prospectus is created, the investment bank begins marketing the securities to potential investors. This phase is known as the "roadshow," where representatives from the investment bank present the offering to institutional investors, such as mutual funds and pension funds. The goal is to generate interest and secure commitments from these investors to purchase the securities once they are issued.Once the demand is assessed and the offering is fully subscribed, the investment bank proceeds to underwrite securities by purchasing them from the issuer. This step provides the issuer with immediate capital, which can be used for various purposes, such as expanding operations, paying off debt, or funding new projects. After acquiring the securities, the investment bank will then sell them to individual investors and institutions, ideally at a profit.The importance of underwriting securities extends beyond just the initial issuance. It helps to create a stable market for the securities, as the investment bank's involvement adds credibility to the offering. Investors are often more willing to buy securities that have been underwritten by reputable financial institutions, as this signals that the offering has been thoroughly vetted.In conclusion, understanding the concept of underwrite securities is vital for anyone interested in the financial markets. It highlights the relationship between issuers and investment banks, as well as the risks and responsibilities involved in the process. By facilitating the smooth issuance and distribution of securities, underwriters play a pivotal role in the functioning of capital markets, ultimately contributing to economic growth and development.

在金融和投资的世界中，“承销证券”这个术语在为公司和政府筹集资金的过程中起着至关重要的作用。“承销证券”意味着一家投资银行或金融机构同意以固定价格从发行者那里购买一定数量的证券，然后将这些证券转售给投资者。这个过程对于确保发行者能够获得所需资金，同时为投资者提供投资各种资产的机会至关重要。当一家公司决定通过发行股票或债券上市时，它通常会寻求投资银行来帮助促进这一过程。投资银行充当中介，评估公司的财务状况并确定证券的适当价格。通过同意承销证券，投资银行承担了与发行相关的风险。如果证券未能如预期那样出售，银行可能会被迫持有未售出的股票或债券，这可能导致财务损失。因此，投资银行在承诺承销发行之前会进行彻底的尽职调查。承销过程通常涉及几个关键步骤。首先，投资银行会与发行者密切合作，收集有关公司的所有必要信息，包括财务报表、商业计划和市场分析。这些信息对于设定正确的价格和了解证券的需求至关重要。一旦细节敲定，投资银行将准备一份招股说明书，这是一个向潜在买家概述投资机会的文件。在招股说明书创建后，投资银行开始向潜在投资者推销证券。这一阶段被称为“路演”，投资银行的代表向机构投资者（如共同基金和养老基金）展示该发行。目标是产生兴趣，并确保这些投资者在证券发行后购买证券的承诺。一旦评估了需求并且发行完全认购，投资银行便开始承销证券，通过从发行者那里购买它们。这一步骤为发行者提供了即时资本，可用于各种目的，如扩展运营、偿还债务或资助新项目。在收购证券后，投资银行将其出售给个人投资者和机构，理想情况下以盈利的方式。承销证券的重要性不仅限于初始发行。它有助于为证券创造一个稳定的市场，因为投资银行的参与为发行增加了信誉。投资者通常更愿意购买由声誉良好的金融机构承销的证券，因为这表明该发行经过了全面审查。总之，理解承销证券的概念对任何对金融市场感兴趣的人来说都是至关重要的。它突显了发行者与投资银行之间的关系，以及在这一过程中涉及的风险和责任。通过促进证券的顺利发行和分配，承销商在资本市场的运作中发挥了关键作用，最终促进了经济增长和发展。