Equity Capital Markets

Bookrunner

Definition

What is Bookrunner?

The lead bank responsible for managing investor orders and pricing in a securities offering.

Example in practice

The bookrunner builds the order book for a bond issue.

Keep learning

The first public sale of a private company's shares, after which the shares may trade on an exchange.

A sale of newly issued securities in which the issuer receives the proceeds.

A sale of existing securities by current holders, so the issuer generally does not receive the proceeds.

An offer allowing existing shareholders to buy additional shares, usually in proportion to their holdings.

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