Glossary entry (derived from question below)
English term or phrase:
All-or-none underwriting
French translation:
placement «tout ou rien»
English term
all-or-none underwriting
All or none underwriting allows the issuing corporation to contract for the sale of all shares. If any shares remain at the end of the underwriting process, the underwriting is cancelled. Underwriters cannot deceive investors by stating that all of the securities in the underwriting have been sold if it is not true. (Investopedia)
The Board is of the view that an initial "when, as and if issued" confirmation of a transaction in a security which is the subject of an "all or none" underwriting may be sent out prior to the time a formal bond purchase agreement is executed. ( Municipal Securities Rulemaking Board)
There is one last variation. That is called an 'All Or None Underwriting'. Under this type of underwriting the underwriter agrees to do his best to sell the entire issue by a certain date. All of the proceeds go into an escrow account. If the securities are not all sold by the certain date, the money is returned to the purchasers and the issue is canceled. (Initial Public Stock Offering)
5 +2 | placement «tout ou rien» | Andree Laganiere |
Apr 15, 2011 16:42: changed "Kudoz queue" from "In queue" to "Public"
Apr 15, 2011 16:57: changed "Stage" from "Preparation" to "Submission"
Apr 18, 2011 17:57: changed "Stage" from "Submission" to "Selection"
Apr 27, 2011 13:54:
May 16, 2011 19:54:
May 17, 2011 11:54: changed "Stage" from "Selection" to "Completion"
Proposed translations
placement «tout ou rien»
Certains observateurs privilégient un lien proportionnel, où des objectifs atteints pleinement, passablement ou faiblement donnent droit à 100, 50 ou 25 % de la prime. D'autres préfèrent une approche " tout ou rien " : le rendement de l'action, par exemple, doit dépasser celui des concurrents d'un certain pourcentage, sans quoi le dirigeant ne recevra aucune prime. (Lesaffaires.com)
Note : la Bourse de Toronto (TSX) n’accepte plus les ordres de type « tout ou rien ». Les ordres « tout ou rien » de détail doivent être exécutés en entier ; aucune exécution partielle ne doit être effectuée ou inscrite dans l'attente de son exécution complète. (Disnat Courtage en ligne)
Si vous placez des restrictions de type « tout ou rien » sur votre ordre, il est plus difficile de l'exécuter parce que la Bourse doit trouver l'exacte contrepartie de votre offre. (RBC Placements en direct)
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