Prospectus: Difference between revisions
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{{g}}A long document describing a deal which no-one reads, which lead managers are nonetheless convinced presents them with risk of huge liability. Also called an [[information memorandum]] or an [[offering circular]] | {{g}}A long document describing a deal which no-one reads, but which lead managers are nonetheless convinced presents them with risk of huge liability. Much of it accordingly comprises [[disclaimer]]s. | ||
Also called an “[[information memorandum]]” or an “[[offering circular]]”. A draft version — sometimes released for pre-marketing purposes — is called a “[[red herring]]”, on account of some red text written vertically down the margin. | |||
Revision as of 15:14, 2 December 2019
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A long document describing a deal which no-one reads, but which lead managers are nonetheless convinced presents them with risk of huge liability. Much of it accordingly comprises disclaimers.
Also called an “information memorandum” or an “offering circular”. A draft version — sometimes released for pre-marketing purposes — is called a “red herring”, on account of some red text written vertically down the margin.