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Gold/Mining/Energy : Kinross Gold
KGC 28.35+0.7%Dec 1 3:59 PM EST
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To: Mark Kubisz who wrote (116)2/19/1998 7:37:00 AM
From: Bill Shugarue   of 530
 
In this situation, the underwriters would sell
the shares to their "best" clients for $5.05
per share, the same as they paid for them. They
would receive a commission from Kinross for
completing the deal. This could range from 3-5%
of the total amount invested. That small percentage
might not seem like much, but when you consider the
amount raised, it adds up.

Without underwriters, companies would be unable to
raise the necessary money required to expand, explore
and do the other things involved in running a business.

This was a bought deal, which means that the underwriters
guaranteed Kinross the deal would be completed.
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