BizTerm Definition
Book Running Manager
Full Definition

The book running manger is the underwriter controlling the offering. This underwriter's name almost always appears on the top left at the bottom of the cover page of the prospectus. In some cases, however, the underwriter whose name appears in this position does not control the order book listing of buy orders from prospective investors. That role is taken by one of the other underwriters listed on the cover page. That is why investors ask, "Who is the book running manger?"

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