21:47 Aug 18, 2003 |
Russian to English translations [PRO] Bus/Financial | |||||
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| Selected response from: Deborah Hoffman Local time: 04:23 | ||||
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4 +1 | The book of bids is the instrument by which the market demand for ADRs is evaluated. |
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The book of bids is the instrument by which the market demand for ADRs is evaluated. Explanation: "By the end of the book-building period, the issuer is able to build up a book of bids received from investors at various coupon levels. The issuer then decides the cut-off level based on the bids received by him vis-а-vis his requirement of funds." http://www.iseconline.com/bookbuilding/bbhome2.htm |
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