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French auction : ウィキペディア英語版 | French auction
A French auction (''Offre à Prix Minimal'', formerly ''Mise en Vente'') is a multiple-price auction used for pricing initial public offerings. In this offering, the firm announces a minimum (reserve) price. Investors place sealed bids for quantity and price. When the bids are in, the firm negotiates a minimum and maximum price with the market regulator (the ''Société des Bourses Françaises'', or ''SBF''). Any bid above the maximum price is eliminated as a virtual market order. The bidders who bid between the minimum and maximum price are awarded shares on a ''pro rata'' basis, each paying the minimum price. In the event that demand for the stock is too high, the IPO may be changed to fixed-price offering. ==See also==
* Book building
抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)』 ■ウィキペディアで「French auction」の詳細全文を読む
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