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 European Commission has approved, under EC Treaty state aid rules, an amendment to a Lithuanian scheme allowing aid to be granted of up to €500 000 per company, initially approved on 8 June 2009.
more »
As agreed by the President of the European Commission and the President of the Russian Federation during the last EU-Russia Summit in Khabarovsk, the EU and Russia have strengthened the current dispositions under the EU-Russia Energy Dialogue to prevent and manage potential energy crises, with an enhanced Early Warning Mechanism.
more »
The European Union has today presented to the World Trade Organization the trade facilitation projects it has financed between 2006 and 2008.
more »
The European Commission has authorised, under the EC Treaty’s rules on state aid, a planned state guarantee by Romania to enable Ford Romania SA to access a loan from the European Investment Bank (EIB).
more »
The economic crisis has left many countries with budget deficits well over the 3% limit. The commission is proposing deadlines for reducing the gaps.
more »
Statistics Lithuania informs that in October 2009, against September, prices for consumer goods and services went down by 0.4 per cent.
more »
Lithuania’s Vice-Minister of Foreign Affairs Šarūnas Adomavičius took part in bilateral political consultations with representatives from foreign affairs, commerce and transport ministries of the People’s Republic of China.
more »
Under the budgetary surveillance powers conferred by the EU Treaty, the European Commission today proposed to the Council to set 2013 as the deadline for the correction of the budget deficits in Austria, the Czech Republic, Germany, Slovakia, Slovenia, the Netherlands and Portugal.
more »
A joint partnership between the World Bank, the Moldovan Ministry of Agriculture and Food Industry and the Ministry of Environment was launched in Moldova’s capital in the late days of October.
more »
World Bank Group President Robert B. Zoellick today joins senior officials from the Government of Singapore to launch a new global urban strategy that will guide Bank advisory services and financing in the sector over the next decade.
more »