The lead underwriter is the underwriting director general. Underwriters in the underwriting syndicate who are responsible for overall affairs, assume major responsibilities and sign underwriting agreements with the issuing company on behalf of the underwriting syndicate. In China, the lead underwriter is responsible for contacting the China Securities Regulatory Commission on the issue of the company's shares, such as reporting the materials submitted for review and reporting the underwriting situation.
The so-called joint global coordinator is a role derived from the fact that different account book managers are responsible for the issuance in different regions, and is responsible for the overall coordination between different regions.
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Domestic and international situation of lead underwriter
Internationally, lead underwriters are generally commercial banks (UK), investment banks (USA) and large securities companies with good reputation and strength. In China, it is generally held by qualified securities companies or trust and investment companies engaged in securities.
In China, the state has clear regulations on the implementation of underwriting business and the identification of underwriting qualifications. When the total face value of the publicly issued or placed shares exceeds 30 million yuan or the estimated total sales exceeds 50 million yuan, the shares shall be underwritten by the underwriting syndicate. The underwriting syndicate consists of two or more securities institutions, among which the securities institution leading the underwriting syndicate becomes the lead underwriter.
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