A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any form of financial instrument, even though the underlying legal and regulatory regime may not have such a broad definition. In some jurisdictions the term specifically excludes financial instruments other than equities and fixed income instruments. In some jurisdictions it includes some instruments that are close to equities and fixed income, e.g., equity warrants.
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as floating, or going public, a privately held company is transformed into a public company. Initial public offerings can be used to raise new equity capital for companies, to monetize the investments of private shareholders such as company founders or private equity investors, and to enable easy trading of existing holdings or future capital raising by becoming publicly traded.
Agricultural Bank of China (ABC), also known as AgBank, is one of the "Big Four" banks in China. It was founded on 10 July 1951, and has its headquarters in Dongcheng District, Beijing. It has branches throughout mainland China, Hong Kong, London, Tokyo, New York, Frankfurt, Sydney, Seoul, and Singapore.
A Dutch auction is one of several similar types of auctions for buying or selling goods. Most commonly, it means an auction in which the auctioneer begins with a high asking price in the case of selling, and lowers it until some participant accepts the price, or it reaches a predetermined reserve price. This type of price auction is most commonly used for goods that are required to be sold quickly such as flowers, fresh produce, or tobacco. A Dutch auction has also been called a clock auction or open-outcry descending-price auction. This type of auction shows the advantage of speed since a sale never requires more than one bid. It is strategically similar to a first-price sealed-bid auction.
Greenshoe, or over-allotment clause, is the term commonly used to describe a special arrangement in a U.S. registered share offering, for example an initial public offering (IPO), which enables the investment bank representing the underwriters to support the share price after the offering without putting their own capital at risk. This clause is codified as a provision in the underwriting agreement between the leading underwriter, the lead manager, and the issuer or vendor. The provision allows the underwriter to purchase up to 15% in additional company shares at the offering share price.
A special purpose acquisition company, also known as a "blank check company", is a shell corporation listed on a stock exchange with the purpose of acquiring a private company, thus making the private company public without going through the initial public offering process, which often carries significant procedural and regulatory burdens. According to the U.S. Securities and Exchange Commission (SEC), SPACs are created specifically to pool funds to finance a future merger or acquisition opportunity within a set timeframe; these opportunities usually have yet to be identified while raising funds.
uBid.com was an online auction style and fixed-price shopping website offering goods sold directly by the company and items sold by pre-approved third party uBid-certified merchants. The site specialized in excess new, refurbished and overstock consumer electronics such as computers, electronics, home goods, jewelry, watches and cellular phones.
Edward Haggai Ntalami (19 March 1947 – 20 November 2014) was a business executive and the former CEO of the Capital Markets Authority (CMA) of Kenya. Ntalami was involved in Kenya's capital markets. He served for over two decades in financial planning and management in the fields of commerce and industry, public sector. Prior to his appointment at the CMA, Ntalami was the executive director of Sterling Securities Limited, a local stockbroker. He was appointed Chief Executive, Capital Markets Authority in December 2002 by President Mwai Kibaki. He completed his term in office on 17 December 2007. Seven months after he left Stella Kilonzo became head of CMA.
A follow-on offering, also known as a follow-on public offering (FPO), is a type of public offering of stock that occurs subsequent to the company's initial public offering (IPO).
A direct public offering (DPO) or direct listing is a method by which a company can offer an investment opportunity directly to the public.
Book building is a systematic process of generating, capturing, and recording investor demand for shares. Usually, the issuer appoints a major investment bank to act as a major securities underwriter or bookrunner.
William R. Hambrecht is an American investment banker and chairman of WR Hambrecht + Co which he founded in 1998. He helped persuade Google to use an Internet-based auction for their initial public offering (IPO) in 2004, instead of a more traditional method using banks and other financial companies to find buyers. He is credited with popularizing this "OpenIPO" model, using Dutch auctions to allow anyone, not just investing insiders, to buy stock in an IPO, potentially raising more money for startups. Some of the companies he has helped have an IPO like this include Overstock.com, Ravenswood Winery, Andover.net and Salon.com.
WR Hambrecht + Co. is a full-service investment bank with headquarters in San Francisco and offices in New York, Boston, Philadelphia, and Tokyo. It was founded in 1998 by Bill Hambrecht. It specializes in using its unique auction process called OpenIPO to compete with the traditional methods of larger and more established banks. Recently, it has underwritten companies such as Google, Morningstar and Interactive Brokers. The firm has financial backing from industry leaders including American Century, Crimson Ventures, epartners, Fidelity Ventures, Novell, and Park Avenue Equity Capital Partners.
A French auction is a multiple-price auction used for pricing initial public offerings.
Hambrecht & Quist (H&Q) was an investment bank based in San Francisco, California noted for its focus on the technology and Internet sectors. H&Q was founded by Bill Hambrecht and George Quist in California, in 1968.
Leaf Group, formerly Demand Media Inc, is an American content company that operates online brands including eHow, livestrong.com, and marketplace brands Saatchi Art and Society6. The company also provides social media platforms to existing large company websites and distributes content bundled with social media tools to outlets around the web.
The technology company Facebook, Inc. held its initial public offering (IPO) on Friday, May 18, 2012. The IPO was one of the biggest in technology and Internet history, with a peak market capitalization of over $104 billion.
Following is a glossary of stock market terms.
Bank of Qingdao Company Limited is a provider of retail and corporate banking services in Shandong province, headquarters are in Qingdao, China. Bank of Qingdao is regulated by the People's Bank of China, the nation's central bank.
Network International Holdings provides technology-enabled payments as a service to merchants and financial institutions in the Middle East and Africa. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
