A syndicate member that takes part in bookbuilding: it manages the order book of the international placing, gathers indications of interest from institutional investors and helps with pricing and allocation. The title is a market description of a role rather than a term defined in the Listing Rules; bookbuilding is carried out by the capital market intermediaries and overall coordinators under the Code of Conduct, and the prospectus disclosure prevails.
The links above lead to official sources such as HKEX and the SFC. The explanation on this site summarises them and may differ from the official definition; the official documents prevail.
This page explains the HK IPO term "Joint Bookrunners" and links to related terms. Definitions are compiled from HKEX Practice Note 18 and the Listing Rules, for understanding subscription rules only — not investment advice.
