Chapter 228: Rival

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The Red Herring Meeting, well, it's not exactly a dinner party.

It's a small gathering after the roadshow, where underwriters probe large investment institutions for their subscription intentions.

The reason for its name is that underwriters deliver Red Herring prospectuses to many potential customers.

The cover of the prospectus is printed with a striking red warning label, which notes that information on products and services is incomplete and subject to change.

Moreover, shares cannot be sold during this period. However, brokers can pre-sell the shares to clients and obtain letters of intent from them.

At the time of the stock offering, once the registration statement goes into effect, buyers can decide whether to convert their letters of intent into purchase orders.

This small trade fair is very flexible, and the investment institutions' letters of intent don't carry legal effect.

Therefore, the data ultimately collected can only serve as a reference.