股票承销商是证券经销商从事间接发行的方式
大摩已经占有中金公司34%的股权，它也是去年最大的股票承销商。但它的业务主要是消极业务。
Morgan Stanley has a 34% stake in China International Capital Corp, which was the top share underwriter last year, but it is a passive one.
此外，承销商大幅上调了这些股票原先的公开募股价。
In addition, underwriters substantially marked up the price at which those shares were initially sold to the public.
可次级承销商也在抱怨分得的战利品没有随之增加，因为他们认为投资银行对自身承担的风险漫天要价——那时发行价格低于市场价格的40%，这样，在投资银行血本无归之前，股票市场就不得不跳水了。
They think Banks were overpaid for the risks they took. Issues were priced as much as 40% below market prices so stocks would have had to plunge before Banks would be out of pocket.
应用推荐