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Technology Stocks : The New QLogic (ANCR)
QLGC 16.070.0%Aug 24 5:00 PM EST
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To: Alan Bershtein who wrote (23819)8/19/1999 5:37:00 PM
From: jim g.  Read Replies (1) of 29386
 
The selling concession of 86 cents is the amount of commission the broker gets if he works for one of the 4 underwriters. It is paid by ANCR not by the customer. If there were other brokers in the syndicate there commission is only 10 cents which is referred to as the reallowance. The other 66 cents goes to the underwriter for fees and expenses. We will find out shortly if the overallotment of 375,000 shares was exercised or not, I expect it was so ANCR could receive another $9,079,100.
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