TITLE

Block Trades Lose Appeal, Lowering Follow-ons

AUTHOR(S)
O'Connor, Colleen Marie
PUB. DATE
April 2005
SOURCE
Investment Dealers' Digest;4/25/2005, Vol. 71 Issue 16, p11
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article informs that last year's block trading boom has turned into a bust, contributing to a near 50% drop in secondary stock issuance so far this year. The decline in secondary issuance has been a source of concern for both Wall Street and the corporate community this year, and is largely attributed to the combination of Sarbox 404 concerns and a capricious stock market. By April 18, $21.2 billion in follow-ons had come to market in the U.S., compared with $37.5 billion during the same period last year. Sources across numerous investment banks agree that block trades will remain a service offered to clients.
ACCESSION #
16847805

 

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