adjectiveFinance , chiefly US
Relating to trading in securities which have not yet been issued.
- Alternatively, the agency could let exchanges set prices by trading new-company shares before an IPO in a so-called ‘when-issued’ market.
- All when-issued transactions are on a conditional basis until the security is delivered and bought.
- We also find evidence of temporary price pressures on the date of execution of the spinoff of the subsidiary firms that bear resemblance to the pricing in the when-issued market.
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