发行价

该公司股票价格在首个交易日就跌破了发行价。

Shares in the company slipped below their issue price on their first day of trading .

该股上周五开盘价格为每股42.05美元，但迅速跌至发行价每股38美元，昨日纽约午盘徘徊在每股35美元附近。

The stock opened at $ 42.05 on Friday , but quickly fell to its issue price of $ 38 , and was yesterday hovering at around $ 35 during afternoon trading in New York .

而这七家公司的交易价格均低于发行价，其中收入管理软件公司ModelN的交易价格比发行价下跌了39%。

All of them are trading below their offering price , as much as 39 % down in the case of revenue-management software company model n ( MODN ) .

Facebook目前的股价已经低于发行价，分析师因而更容易做出乐观的估计。

Facebook shares are lower since their debut , making it easier for analysts to be bullish .

上月底，当中国太保（ChinaPacificInsurance）股价跌破去年12月的发行价时，另一个令人担忧的趋势出现了。

Another worrying trend emerged late last month when shares in China Pacific Insurance dropped below the price at which they were offered to the public in December .

这意味着我们很可能在11月7日周四晚间时刻正式掌握Twitter的发行价。

That means the actual pricing is likely to occur the evening of Thursday , Nov. 7 .

IPO企业越实施提高盈余的应计盈余管理，发行价越高。

The IPO enterprise more implements enhances the earnings to count the earnings management , the wholesale price is higher .

上周，中国西电（chinaxdelectric）成为中国内地5年来首只在交易首日跌破发行价的股票。

Last week , China XD electric became the first new Chinese stock in five years to end its first day of trading below its IPO price .

如果它的发行价达到20美元，那么Twitter的市值将接近110亿美元。

It would be worth just shy of $ 11 billion were it to price at $ 20 per share .

我撰写本文时，Facebook的股价相比发行价已经下跌了16%，三天里的跌幅相当之大。

As I write this , Facebook is trading 16 % below its initial offering price & a pretty nasty three-day loss .

Facebook设定的股票发行价区间比一般公司要宽，若按区间中点计算，该公司的估值仅为860亿美元。

The company also put an unusually wide price range on its shares , with a value of only $ 86bn at the midpoint .

按照Twitter发行价的中位数计算，公司联合创始人埃文•威廉姆斯持有的股票价值将超过10亿美元。

Company co-founder Evan Williams ' stake would be worth just over $ 1 billion if twitter prices in the middle of its range .

这表明，承销投行或许会乐于提高发行价，与通用汽车（GeneralMotors）和Facebook等其他一些大宗IPO一样。

That suggests that the banks may feel comfortable raising the price of the offering , as happened in other big initial offerings like those of General Motors and Facebook .

不过Facebook目前股价相比其发行价已下跌16%，而LinkedIn当前股价比发行价足足上涨了130%。

But Facebook is trading around 16 % below its offering price , while LinkedIn has gained 130 % from its offering price .

阿里巴巴的股价仍然高于发行价，但其他企业首次公开募股（IPO）的计划目前已被搁置。并购交易的宣布也不再那么频繁。

Alibaba still trades above its offer price , but other initial public offerings have been shelved for now . Merger and acquisition announcements have slowed .

本次路演只对少数特权派开放&投资银行家及其高端客户，这些人将能以发行价购入Facebook股票。

The roadshow is reserved for the privileged few & investment bankers and their well-heeled clients who will get a shot at buying Facebook shares at the offering price .

Twitter的发行价和它在递交首份IPO文件时在二级市场的股价相当。

This price is mostly in line with where twitter shares were being offered on the private markets in the weeks leading up to its original IPO filing .

周四晚间，Zynga以每股10美元的发行价进行了IPO，共发行1亿股，募得资金约10亿美元。

Zynga this evening raised around $ 1 billion in its IPO , by pricing 100 million shares at $ 10 per share .

私募股权公司凯雷投资集团（TheCarlyleGroup）周三晚间将IPO发行价定为每股22美元，低于此前计划的23-25美元区间。

Private equity firm the Carlyle Group priced its IPO this evening at $ 22 per unit , which was lower than its proposed $ 23 to $ 25 per unit range .

每项IPO交易都签有协议，允许承销商以略低于IPO发行价的价格向发行人购买更多股票。

Included in every IPO deal is an agreement that gives Underwriters the ability to buy more stock from the company at a slight discount to the IPO price .

商务社交网络LinkedIn将其备受期待的首次公开招股（IPO）发行价定为其发行指导价范围的上限&每股45美元，公开发行784万股股票。

Professional social network LinkedIn has priced its much anticipated IPO at $ 45 per share , the top of its range , for7.84 million shares .

不过，根据汤森路透（thomsonreuters）的数据，今年进行ipo的公司，股价平均比发行价上涨了7.6%。

However , IPO companies are up an average 7.6 per cent from their offer price for the year , according to data from Thomson Reuters .

北汽IPO发行价为每股8.9港币，位于参考定价区间7.6港币到9.8港币的中间位置，预计融资14亿美元。

Priced at HK $ 8.90 per share - midway in the HK $ 7.60-HK $ 9.80 indicative price range - BAIC will raise US $ 1.4bn through the offering .

IPO首日超额收益是指新股上市首日收盘价远远高于其发行价，认购到新股的投资者在上市首日能获得超额收益率。

IPO abnormal initial return means the closing price on the first day is far higher than issuing price , investors who purchase the new share can obtain high earnings .

IPO短期表现普遍呈现出发行价低于上市首日收盘价的现象，这种现象被称为IPO抑价（Underpricing）。

Short-term performance of IPO issue price generally is lower than the closing price listed on the first day , which has been referred to as IPO underpricing .

然而，怀揣着发财梦想的散户们一度认为，自己能够以发行价购买Facebook股票简直是鸿运当头。

Retail investors who were dreaming of riches and figured they were lucky to be able to buy at the offering price have gotten bagged for more than $ 6 a share .

2011年5月，LinkedIn计划以每股32美元的发行价上市，但最终其发行价被上调至每股45美元。

In May 2011 , LinkedIn planned to go public at $ 32 A share before the offering price to $ 45 a share .

最后，本文结合公司上市首日的交易价格提出了自己的观点，认为IPO定价的研究应结合发行价与首日交易价格进行。可转换债券上市首日溢价的实证分析

Lastly , the author brings forward that the combination of pricing and first-day dealing price is very necessary . Empirical Study on the Premium Rate of First-day Traded Price of Convertible Bond

IPO应计盈余管理中盈余越高，发行价就越高的隐含假设并不适用于真实盈余管理。

IPO should count in the earnings management " the earnings to be higher , the wholesale price is higher " the concealment supposition is not suitable for the real earnings management .

但是，不稳定是一把双刃剑：也许只需要一个满堂红季度，Facebook股票就可以像坐火箭一般，一下涨至其发行价38美元每股。

But volatility is a two-edged blade : it could take only one blowout quarter from Facebook ( FB ) to send its stock rocketing back toward its $ 38 A share offering price .