它是最简单的，经常被称为国库券，它是一种贴现债券，且不付息，并以折扣价发行。
It's the most simple — or often called a bill — a discount bond does not pay interest; it's sold at a discount.
利用我国询价发行的新股数据，从新股的价格行为特征入手，借助“簿记”理论，可研究我国累积投标询价方式发行新股的IPO抑价现象。
Using the data of newly-issued stocks in the Chinese security market, the phenomenon of IPO underpricing of newly-issued stocks is analyzed according to book-building theory.
但要知道，如果按93.89美元的收盘价发行，从而让阿里巴巴及其股东获得这些股票的全部价值，他们筹集到的就不是250亿美元，而是346亿。
Remember, if Alibaba and its shareholders had gotten full value for their shares at the closing price of $93.89, they would have collected not $25 billion, but $34.6 billion.
该公司的股票在第一个交易日跌破了发行价。
Shares in the company slipped below their issue price on their first day of trading.
我重申一次，如果没有计划好定价，就不要提交申请，这里所说的价格涵盖计划发行价区间中的任何水平。
Once again, do not file if you do not plan to price, and this includes all prices in the planned offering range.
如果没有确定发行价的计划，就不要提交s - 1申请，提交该申请后长时间的等待可能会带来灾难性的后果。
Don't submit an S-1 if you don't plan to price. Waiting on file for extended periods of time can be catastrophic.
通常来说，一笔IPO在经历最初的热捧之后，股价随后就会跌破发行价。
Often, after an initial frenzy on an IPO, the stocks later fall below their initial offering price.
发行价远远不像上年同期那样低迷，而且越来越多地，企业筹资不是为了救急，而是着眼于业务增长。
The prices are far less depressed than earlier in the year; and increasingly, money is being raised not out of desperation, but with business growth in mind.
许多分析师认为很多近期所谓的“大热”科技股发行价被高估。
Plenty of analysts believe that many of the recent "hot" tech flotations may have been overpriced.
他们撰文指出，救助基金放贷规模扩大后，决策者们可用新发行的救助基金债券以极低的折扣价来置换希腊现有的国债，以此结束希腊债务恐慌。
They wrote that policymakers, using an expanded European bailout fund, could end the Greek panic by offering to swap existing Greek bonds for newly issued bailout-fund debt at a steep discount.
另外一个积极的迹象是：今年为数不多的大规模IPO交易，其股价都明显高于发行价。
Another encouraging sign: This year's few big IPOs have seen their stocks hold well above their initial offering price.
为何发行价和二级市场价之间存在差距？
Why the mismatch between the offering prices and the market values?
不过，市场并未热情款待今年上市的所有股票，这可以看作是对新股崇拜者的一个警告：在36只已经上市的新股中，有14只已跌破了发行价。
Still, the market isn't hospitable to all IPOs this year, which serves as a warning to weaker wannabes: 14 of 36 completed offerings are trading at less than the offering price.
星期四的发行价和当天股价的大幅的上升让人回想起雷曼兄弟破产之前的那段时间，收益大增的同时，亚洲股市出现又一轮的走弱。
The initial value and the sharp rise on Thursday recalled the days before Lehman Brothers collapsed, and the gains bucked another weak session for Asian stock markets.
银行担心没有购买者会自愿购买他们的证券，这就会使得股票的发行价变高。
The Banks worry there are no natural buyers for such securities, making them expensive to issue.
上周五盛大游戏开始交易之前，市场交易传言依然向好，但该股在开始交易的头几分钟就跌破了发行价，投资者随即纷纷开始抛售。
Early trading chatter Friday before Shanda's stock opened was positive, but investors began to flee when it broke through its IPO price within the first few minutes.
日前，两家在美上市的中国公司被迫下调了发行价，这是一段时期以来美国投资者发出的最明确的信号，显示他们对新股上市已热情不在。
U.S. investors gave the clearest indication yet that they have curbed their IPO enthusiasm: Two Chinese-company offerings were forced to cut their prices to sell shares yesterday.
昨天西班牙对外银行股价收于9.11欧元，高于发行价35%。
The stock closed at 9.11 euros yesterday, 35 percent more than the rights offering price.
行业专家认为万科股价跌破发行价的主要原因是市场的变化。
Industry experts indicate that Wanke's stock price fell below its issue price mainly due to market change.
周一收盘价在30.40美元。 比发行价12.80美元上涨了138%，但比最高峰的50美元已下跌39%。
It closed Monday at $30.40 — 138 percent above its initial offering price of $12.80, but down 39 percent from its $50 high.
将股票供应量压低的话，意味着只需要少量需求就能成功发行，发行额度较小，还能减轻所有股东对股权摊薄的忧虑，使他们不至于对发行价太敏感。
Less supply means less demand is required to pull off a successful offering. A smaller offering also will make all shareholders less sensitive to dilution and therefore pricing.
周日的协议赋予了荷兰国际集团以发行价1.5倍的价格回购优先股的权利。
Sunday's agreement gives ING the right to buy back the preferred shares at 150% of the issue price.
本周二，LinkedIn将其预计发行价区间从每股32美元至35美元提高到每股42美元至45美元。
On Tuesday LinkedIn raised the price of its expected price range to $42 to $45 per share from $32 to $35 per share.
本周二，LinkedIn将其预计发行价区间从每股32美元至35美元提高到每股42美元至45美元。
On Tuesday LinkedIn raised the price of its expected price range to $42 to $45 per share from $32 to $35 per share.
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