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Pre-syndicate bid - A bid on stock that is entered before the effective date of a secondary offering. It is made to stabilize the price during distribution of this block of stock. The effective date of stock, after registration at the Securities and Exchange Commission usually is 20 days. A secondary offering is a registered offer of a large block of stock by a current shareholder. The proceeds of this offering will go to the shareholder, not to the company, and the number of shares will stay the same. Stabile prices always has a good effect on the company's value. |
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