In competitive bid the issuer is responsible for specifying the type of security to be offered the timing etc and then soliciting competitive bids from investment banking firms wishing to act as an underwriter The high bids will be awarded the contracts Negotiated relationships are contractual arrangements between an underwriter and the issuer wherein the underwriter helps the issuer prepare the security issue with the understanding that they have the exclusive right to sell the issue

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The IPO Process is when a previously unlisted firm sells new or existing securities for the first time and makes them available to the general public A firm is deemed private prior to an IPO if it has ... View the full answer