问题
问答题
In relation to the Securities Law of China:
(a) explain the term underwriting with best efforts for an initial public offer of securities; (2 marks)
答案
参考答案:
In accordance with Article BH of the Securities Law, underwriting with best efforts for an initial public offer of securities refers to the way whereby the securities company (underwriter) sells securities as the agent of the issuer and, as the underwriting period expires, returns to the issuer all the securities that remain unsold.