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| gen. |
overallotment option (Yandex shares soared more than 50 percent on the first day of trading last Tuesday. The offering raised a total of $1.43 billion after its organizers "exercised in full" an overallotment option to buy 5,217,405 shares at $25 each, the company said Friday, Bloomberg reported. TMT Alexander Demidov) |
| econ. |
overallotment |
| law |
greenshoe (Kovrigin); green shoe (jargon for what is legally called an "over-allotment option", also spelled greenshoe Kovrigin) |
| st.exch. |
over-allotment option (A green shoe option is a clause contained in the underwriting agreement of an initial public offering (IPO). It is also known as an over-allotment provision. It allows the underwriting syndicate the right to sell investors more shares than originally planned by the issuer. This would normally be done if the demand for a security issue proves higher than expected. Greenshoe options typically allow underwriters to sell up to fifteen percent more shares than the original number set by the issuer, if demand conditions warrant such action. 'More); greenshoe option ('More); over-allotment provision ('More) |
