When issued 预发行交易
What Does “When Issued” Mean?
When issued (WI) is a transaction that is made conditionally because a security has been authorized but not yet issued. Treasury securities, stock splits, and new issues of stocks and bonds are all traded on a When-issued basis. Prior to a new issue’s offering, underwriters solicit potential investors who may elect to book an order to purchase a portion of the new issue.
WI是有条件的交易,因为证券已被授权但尚未发行。短期国库券,股票拆合股以及股票和债券的新发行都是基于WI来进行交易。在发行新股(IPO)之前,承销商会招募潜在的投资者,他们可能会选择购买一点新发行的证券。