Underwriters of initial public offerings are more frequently easing lockup restrictions that limit corporate insiders' sale of their shares for a set period after the IPO, the Wall Street Journal reports. It cites underwriters' allowing investors and managers in ExactTarget to sell some of their shares yesterdayy, before the lockup period had ended. Such lockup agreements are intended to bolster the stock's price in the wake of the IPO, but the Journal notes that ExactTarget's shares rose 1.1% yesterday.
Underwriters have allowed 10 lockup agreements to expire early this year.
See the full story here.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
