3 online brokerages to sell IPOs over Internet.TOKYO, Oct. 26 Kyodo Three online securities houses said Thursday Thursday: see week. they have agreed to form an ''E-Dealer'' consortium to sell initial offerings of new shares to individual investors. Under the agreement which marks the first consortium of online brokerages in Japan, Wit Capital Japan Inc. will underwrite To insure; to sell an issue of stocks and bonds or to guarantee the purchase of unsold stocks and bonds after a public issue. The word underwrite has two meanings. initial public offerings and invite subscriptions in cooperation with eWing Ew·ing , James 1866-1943. American pathologist. An authority on cancer, he established oncology as a clinical specialty. Securities Co. and Orix Securities Inc., the companies said. Wit Capital will choose buyers by lot and sell shares through the three companies. The first deal under the E-Dealer system is expected to take place in mid-November. Dealing directly with investors over the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the , including collecting data such as the number of shares they want and planned purchase prices, will enable the consortium to set prices and other sales terms in response to market needs, a Wit Capital official said. |
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