The IPO process involves several entities, such as the issuing company, institutional investors, brokers, lawyers, regulators, retail investors, and an intermediary company.

Consider the following IPO deal:

In $1999,$ Goldman Sachs Group and its partners, Sumitomo Bank Capital Markets Inc. and Kamehameha Activities Association, raised $$3\mathrm{.}6$ billion through its initial public offering in the United States and Canada. Goldman Sachs & Co$.,$ Bear Stearns & Co$.$ Inc., Credit Suisse First Boston Corporation, Lehman Brothers Inc., and J$.$P$.$ Morgan Securities Inc. became some of the U$.$S$.$ representatives of the deal by entering into an agreement to sell a certain number of shares to potential investors at a predetermined price.

Identify one of the underwriters in the IPO deal described above.

Sumitomo Bank Capital Markets

Credit Suisse First Boston Corp.

The underwriter in the IPO process has several responsibilities.

True or False: The underwriter is likely to promote the shares by distributing analyst reports on the stock to its associate brokerage house.

True