An issuer refers to a legal person company that raises funds by issuing shares, and a listed company refers to a company whose shares are listed on a stock exchange. Generally speaking, after the public offering of shares, listing is only a step. In China, issuance and listing are almost two consecutive steps. Therefore, the issuer can be said to be the early stage of a listed company. If there is anything you don't understand, please refer to Professor Zhu Jinqing's Securities Law, which makes it very clear.
The underwriter mentioned above should be different from the issuer.
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