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Definition of Offer
Indicates a willingness to sell at a given price. Related: bid
A public equity issue that is sold to all interested investors.
An offering of securities through competitive bidding.
An international equity placement where the offering is split into two
An offer by the firm to give one security, such as a bond or preferred stock, in exchange for
A one-time offer to purchase a stated number of shares at a stated fixed price,
A public offering made to investors at large.
Sale of securities open to all investors by an already-public company.
A firms first offering of its shares to the investment public, after registration requirements of the various securities regulators have been met.
A company's first sale of stock to the public. Securities offered in an IPO are
First offering of stock to the general public.
An offering of securities for which the terms, including underwriters' compensation,
A document that outlines the terms of securities to be offered in a private placement.
A "prosperous-like" document providing detailed descriptions of a company's past, present, and prospective business operations. It is normally prepared for the use of potential purchasers of securities offered under the seed capital or private placement prospectus exemptions.
The deposit rate on interbank transactions in the Eurocurrency market
A firm selling some of its own newly issued shares to investors.
The sale of registered securities by the issuer (or the underwriters acting in the interests of the
The sale of new securities to the investing public.
In a purchase and sale, the yield to maturity at which the underwriter offers to sell the bonds
Issuance of "rights" to current shareholders allowing them to purchase additional shares,
Sale of securities by a firm that is already publicly traded.
General offer made publicly and directly to a firm's shareholders to buy their stock at a price
Takeover attempt in which outsiders directly offer to buy the stock of the firm’s shareholders.
Tender offer premium
The premium offered above the current market price in a tender offer.
A clause in a shareholders agreement preventing a company from issuing additional shares, without allowing the current shareholders the opportunity to participate in the offering to avoid dilution of their percentage ownership.
This is the quoted ask, or the lowest price an investor will accept to sell a stock. Practically speaking, this
A dealer's price to sell a security; also called the offer price.
Bank discount basis
A convention used for quoting bids and offers for treasury bills in terms of annualized
Benchmark interest rate
Also called the base interest rate, it is the minimum interest rate investors will
A method of securities distribution/ underwriting in which the securities firm agrees to sell
This is the quoted bid, or the highest price an investor is willing to pay to buy a security. Practically
A market where an intermediary offers search services to buyers and sellers.
An incentive offered to purchasers of a firm's product for payment within a specified time
Shipments of product to distributors who are encouraged to overbuy under
Underwriters, actual or potential, often seek out and "circle" investor interest in a new issue before
Also known as the range. The high and low prices, or bids and offers, recorded during the
The fee paid to a broker to execute a trade, based on number of shares, bonds, options, and/or
A securities offering process in which securities firms submit competing bids to the
Comprehensive due diligence investigation
The investigation of a firm's business in conjunction with a
Consolidated Omnibus Budget Reconciliation Act (COBRA)
A federal Act
Term life insurance products are offered as non-convertible or convertible to a certain time in the future. The coversion right has a time limit, usually to the policy holder's age 60 or possibly even age 70. This right means that the policy holder has the right to convert their existing policy to another specific different plan of permanent insurance within the specified time period, without providing evidence of insurability. There is a slightly higher cost for a term policy with the conversion priviledge but it is a valuable feature should a policy holder's health change for the worst and continued insurance coverage becomes a necessity.
Credit unions are community based financial co-operatives and most offer a full range of services. All are owned and controlled by members who are also shareholders. Credit unions are regulated provincially and insured by a stabilization fund, deposit insurance or guarantee corporation.
The interest rate offered on an investment type insurance policy.
Creditor (Credit Insurance)
A lender or lending institution that offers financing and loans to a borrower, for the purpose of acquiring a commodity.
Creditor Proof Protection
The creditor proof status of such things as life insurance, non-registered life insurance investments, life insurance RRSPs and life insurance RRIFs make these attractive products for high net worth individuals, professionals and business owners who may have creditor concerns. Under most circumstances the creditor proof rules of the different provincial insurance acts take priority over the federal bankruptcy rules.
A bond selling at or close to par, that is, a bond with a coupon close to the yields currently
High-coupon bonds that sell at only at a moderate premium because they are callable at a
Over-the-counter options, such as those offered by government and mortgage-backed
Tax-advantaged life insurance product. Deferred annuities offer deferral of taxes with the
Selling a new issue not by offering it for sale publicly, but by placing it with one of several
Payments from fund or corporate cash flow. May include dividends from earnings, capital
Auction in which the lowest price necessary to sell the entire offering becomes the price at
The gross underwriting spread adjusted for the impact of the announcement of the common
In the interbank Eurodollar deposit market, an either-way market is one in which the bid
Life insurance payable to the policyholder, if living on the maturity date stated in the policy, or to a beneficiary if the insured dies before that date. For example, some Term to age 100 policies offer the option of taking the face amount of the policy as a cash payout at age 100 if the policyholder is still alive and paying all required income taxes on the amount received or leaving the policy to pay out upon death whereupon the payout is tax free.
Equilibrium market price of risk
The slope of the capital market line (CML). Since the CML represents the
Equivalent taxable yield
The yield that must be offered on a taxable bond issue to give the same after-tax
Euro-medium term note (Euro-MTN)
A non-underwritten Euronote issued directly to the market. Euro-
A bond that is (1) underwritten by an international syndicate, (2) offered at issuance
In connection with a rights offering, shares of stock that are trading without the rights attached.
The firm makes a tender offer for a given amount of its own stock while excluding
Also referred to as the international market, the offshore market, or, more popularly, the
Family and Medical Leave Act
A federal Act containing the rules for offering
Foreign Credit Insurance Association. A private U.S. consortium of insurance companies that offers
Fixed price basis
An offering of securities at a fixed price.
The number of shares that are actively tradable in the market, excluding shares that are held by officers
Set of funds with different investment objectives offered by one management company. In many
Mortgage-backed securities (MBS) on which registered holders receive an aggregate principal and
When the Fed offers to buy securities, to sell securities, to do repo, or to do reverses, it solicits
The process of offering a company’s shares for sale to the public through an
The fraction of the gross proceeds of an underwritten securities offering that is paid as
The whole-dollar price of a bid or offer is referred to as the handle (ie. if a security is quoted at
A contract that obligates a purchaser of a project's output to make cash
A stock index option issued by either a corporate or sovereign entity as part of a security
Insurance that is offered to individuals rather than groups.
spread The spread between the interest rate offered in two sectors of the bond market for
Intramarket sector spread
The spread between two issues of the same maturity within a market sector. For
Decisions concerning the asset side of a firm's balance sheet, such as the decision to
Investment Tax Credit
A reduction in taxes offered to firms to induce them to increase investment spending.
See initial public offering.
The date a security is first offered for sale. That date usually
A bond with a speculative credit rating of BB (S&P) or Ba (Moody's) or lower is a junk or high
This refers to the practice of some life insurance companies to offer policies which are lower in price because they have assumed a high probability that the policies will be cashed in by their owners for one reason or another before the death benefit becomes available. It is a bold and risky offer by the insurance company because sometimes the purchasers of these policies simply don't lapse them.
The London Interbank offered Rate; the rate of interest that major international banks in London
Some insurance companies include this benefit option at no cost to their policy holders. The insurer considers on a case to case basis, the need for insurance funds before death. If the insured can demonstrate a shortened life of less than two years and with some insurers one year, the insurer will consider releasing up to 50% or a maximum of $100,000 of the life insurance coverage held by the insured. Not all insurers offer this benefit for free. The need has resulted in specific stand alone living benefit/critical illness policies coming into existence. Look under "Different types of Life Insurance" for further information. You might have heard of "Viatical Settlements", the practice of seriously ill people selling the rights to their life insurance policies to third parties. This practice is common in the United States but has not caught on in Canada.
Make a market
A dealer is said to make a market when he quotes bid and offered prices at which he stands
High-volume production runs of a product, while still offering
A corporate debt instrument that is continuously offered to investors over a period of
Stage of a company's development just prior to going public, in Venture Capital language. Venture capitalists entering at that point have a lower risk of loss than at previous stages and can look forward to early capital appreciation as a result of the Market Value gained by an Initial Public offering.
Commonly sold in the form of reducing term life insurance by lending institutions, this is life insurance with a death benefit reducing to zero over a specific period of time, usually 20 to 25 years. In most instances, the cost of coverage remains level, while the death benefit continues to decline. Re-stated, the cost of this kind of insurance is actually increasing since less death benefit is paid as the outstanding mortgage balance decreases while the cost remains the same. Lending institutions are the most popular sources for this kind of coverage because it is usually sold during the purchase of a new mortgage. The untrained institution mortgage sales person often gives the impression that this is the only place mortgage insurance can be purchased but it is more efficiently purchased at a lower cost and with more flexibility, directly from traditional life insurance companies. No matter where it is purchased, the reducing term insurance death benefit reduces over a set period of years. Most consumers are up-sizing their residences, not down-sizing, so it is likely that more coverage is required as years pass, rather than less coverage.
State or local governments offer muni bonds or municipals, as they are called, to pay for
Mutual funds are pools of money that are managed by an investment company. They offer
Situation in which the terms of an offering are determined by negotiation between the issuer
In a Treasury auction, the amount by which the par value of the securities offered exceeds that of
In October 1996 it was announced in the international news that scientists had finally located the link between cigarette smoking and lung cancer. In the early 1980's, some Canadian Life Insurance Companies had already started recognizing that non-smokers had a better life expectancy than smokers so commenced offering premium discounts for life insurance to new applicants who have been non-smokers for at least 12 months before applying for coverage. Today, most life insurance companies offer these discounts.
One man picture
The picture quoted by a broker is said to be a one-man picture if both the bid and offered
The range of prices at which the first bids and offers were made or first transactions were
Original issue discount debt (OID debt)
Debt that is initially offered at a price below par.
strategy Takeover defense strategy in which the prospective acquiree retaliates against the
A policy offers the potential of sharing in the success of an insurance company through the receipt of dividends.
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