book runner

简明释义

配售经办人

英英释义

例句

1.During the roadshow, the book runner presented the company's financials to potential investors.

在路演期间，账簿管理人向潜在投资者展示了公司的财务状况。

2.As a book runner, they have the responsibility to manage the allocation of shares to investors.

作为账簿管理人，他们负责管理向投资者分配股票。

3.The investment bank acted as the book runner in the IPO, ensuring all orders were properly recorded.

投资银行作为账簿管理人在首次公开募股中运作，确保所有订单都被正确记录。

4.The book runner plays a crucial role in determining the final price of the offering.

账簿管理人在确定最终发行价格方面发挥着至关重要的作用。

5.The book runner will compile a list of interested investors before the bond issuance.

在债券发行之前，账簿管理人将编制一份感兴趣的投资者名单。

作文

In the world of finance and investment, the term book runner refers to a financial institution or an investment bank that manages the issuance of new securities. This role is crucial in the underwriting process, where the book runner takes on the responsibility of coordinating the sale of shares or bonds to investors. The book runner not only helps in setting the price of the securities but also maintains a record of the orders placed by investors, which is essential for ensuring that the offering is successful. The duties of a book runner begin long before the actual sale of the securities. They conduct thorough market research to gauge investor interest and to determine the optimal timing for the offering. By analyzing trends and potential demand, the book runner can advise the issuing company on how much to raise and at what price. This advisory role is vital, as it can significantly impact the success of the capital-raising effort.Once the offering is launched, the book runner plays a pivotal role in marketing the securities to potential investors. This involves creating detailed presentations, roadshows, and meetings to attract interest from institutional investors, hedge funds, and other entities. The effectiveness of the book runner in these efforts often determines whether the offering will be oversubscribed or undersubscribed. An oversubscribed offering indicates strong demand and can lead to a higher price for the securities, benefiting both the issuer and the book runner.After the initial marketing phase, the book runner collects orders from investors and builds a 'book' of demand. This book is crucial because it provides a clear picture of how much interest there is in the offering and at what price levels. The book runner must balance this demand with the issuer's objectives, ensuring that the final pricing reflects both the market conditions and the issuer's needs. Once the orders are collected, the book runner will finalize the price and allocate shares or bonds to the investors based on their orders. This allocation process requires careful consideration, as the book runner must ensure fairness while also maintaining good relationships with key investors. In conclusion, the role of a book runner is indispensable in the capital markets. Their expertise not only facilitates the smooth execution of securities offerings but also ensures that issuers achieve their financial goals. Understanding the intricacies of the book runner's responsibilities can provide valuable insights into the dynamics of financial markets and the importance of effective communication and strategy in investment banking. Overall, the book runner serves as a bridge between the issuing company and the investing public, playing a critical role in the successful launch of new financial instruments. Their work exemplifies the blend of analytical skills, market knowledge, and interpersonal communication necessary to thrive in the fast-paced world of finance.

在金融和投资领域，术语book runner指的是管理新证券发行的金融机构或投资银行。这个角色在承销过程中至关重要，因为book runner负责协调向投资者出售股票或债券的工作。book runner不仅帮助设定证券的价格，还维护投资者下单的记录，这对于确保发行的成功至关重要。book runner的职责在证券实际出售之前就开始了。他们进行全面的市场研究，以评估投资者的兴趣，并确定发行的最佳时机。通过分析趋势和潜在需求，book runner可以建议发行公司筹集多少资金以及以什么价格。这种顾问角色至关重要，因为它可以显著影响筹资工作的成功。一旦发行启动，book runner在向潜在投资者推销证券方面发挥着关键作用。这涉及到制作详细的演示文稿、路演和会议，以吸引机构投资者、对冲基金和其他实体的兴趣。book runner在这些努力中的有效性通常决定了发行是超额认购还是不足认购。超额认购的发行表明强烈的需求，并可能导致证券价格的上涨，从而使发行者和book runner都受益。在初步营销阶段结束后，book runner会收集投资者的订单，并建立一个需求“账本”。这个账本至关重要，因为它提供了对发行需求的清晰认识以及各个价格水平的情况。book runner必须平衡这种需求与发行者的目标，确保最终定价既反映市场状况，又满足发行者的需求。一旦订单收集完成，book runner将最终确定价格，并根据投资者的订单分配股票或债券。这一分配过程需要仔细考虑，因为book runner必须确保公平，同时也维护与关键投资者的良好关系。总之，book runner在资本市场中的角色不可或缺。他们的专业知识不仅促进了证券发行的顺利执行，还确保发行者实现其财务目标。理解book runner职责的复杂性，可以为我们提供关于金融市场动态以及投资银行中有效沟通和战略重要性的宝贵见解。总体而言，book runner充当了发行公司与投资公众之间的桥梁，在新金融工具成功推出中发挥着关键作用。他们的工作体现了在快节奏的金融世界中蓬勃发展的分析技能、市场知识和人际沟通的结合。