bookrunner
C2CEFR level
90/100Rarity: very rare
TechnicalRegister
Law noun
The lead bank that manages a securities issue and records investor orders.
The joint bookrunners set the final price at the top of the range.
Business noun
The lead investment bank that manages a securities issue and records investor orders.
As sole bookrunner on the flotation, the bank set the price range and allocated stock to favoured institutions.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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