Business, Legal & Accounting Glossary
A form of securities issue in which the underwriter will cancel the entire issue if he or she is unable to resell it. For example, if the underwriter plans to issue 1,000 shares of a security but is only able to resell 800 shares, the underwriter will cancel the entire issue.
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This glossary post was last updated: 19th November, 2021 | 0 Views.