Schwab can show IPO data to investors.
Published:
19 November 1999 y., Friday
Washington--Brokerage Charles Schwab, which wants to expand customer access to initial public offerings (IPO), can use the Internet to transmit companies_ IPO presentations to individual investors, the Securities and Exchange Commission held. The SEC ruling, presented in a so-called "no-action" letter to Schwab, likely will open many companies_ pre-IPO promotional presentations--called "roadshows"--that now are typically restricted to analysts and institutional investors, legal experts said. The SEC_s ruling will let San Francisco-based Schwab, the top Internet broker, permit many investment advisers, as well as about 1 million wealthier individual investors, to participate in live or recorded roadshows about company finances. Schwab announced earlier this week that it is joining two other online brokerages, Ameritrade Holding and TD Waterhouse Group, to form an online investment bank in an attempt to secure more IPO shares from Wall Street underwriters. Schwab executives have been frustrated that the firm_s previous alliances with underwriters had yielded few IPO share allocations for its customers. Schwab said it intends to start trying to open company roadshows to individual investors in the first quarter of next year. Schwab has participated in about 73 IPOs recently, and hopes to increase that number substantially in the coming year.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The EBRD is increasing the availability of financing to the real economy in Hungary, with a €50 million credit line to CIB Bank, including at least €10 million equivalent denominated in Hungarian Forint.
more »
At the end of March 2010, AB Bank SNORAS deposit portfolio exceeded LTL 5 billion, of which over LTL 3 billion are household deposits.
more »
In affirmation of Vietnam’s remarkable progress towards Middle Income Country status, the World Bank Board of Directors today approved a second loan for Vietnam from the International Bank of Reconstruction and Development (IBRD).
more »
The World Bank today approved a EUR26 million loan to the Republic of Croatia aimed at further improving the efficiency of Croatia’s justice system − a necessary process in Croatia’s path towards successful European Union accession.
more »
The ACP-EU Joint Parliamentary Assembly asked the European Commission to help EU and ACP banana producers adapt to the new EU-Latin America trade agreement, which is expected to put an end to fifteen years of “banana wars” between the two continents, but has raised concerns for the livelihood of some regions' producers.
more »
As seventeen of Africa’s 53 nations celebrate 50 years of independence in 2010, Africa’s “golden moment has come” and investors around the globe must look to the continent often painted only as risk-prone if they are to capitalize on business opportunities.
more »
During the ordinary general shareholders’ meeting of AB Bank SNORAS, which took place on 31st March 2010, the bank’s profit distribution was approved.
more »
The EU is the world's largest economy, with enough international clout to return to "real capitalism" rather than resign itself to an alien "financial capitalism", concluded MEPs and experts at a public hearing held on Thursday by Parliament's special committee on the crisis.
more »
Food quality and labelling are likely to be key issues when the Common Agriculture Policy is overhauled in the coming years.
more »
The European Investment Bank (EIB) is lending EUR 250 million to Russian company Enel OGK-5 to finance the upgrading of a gas fired power plant located in Nevinnomyssk, South Russia.
more »