Allocation in net offer prescribes category-specific allotments with reserved subcategories and reallocation for unsubscribed portions. Allocation in the net offer prescribes percentage allocations among investor classes: a reserved portion for individual investors who apply at minimum application size, a portion for non-institutional investors, and the remainder to qualified institutional buyers with a sub-allocation to mutual funds; unsubscribed shares in any category may be reallocated to other categories. For book-built issues the non-institutional portion is split by application-size subcategories with reciprocal reallocation; for non-book-built issues a minimum proportion is reserved for minimum-size individual applicants and the balance is allotted among other individual and institutional applicants.
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Provisions expressly mentioned in the judgment/order text.
Allocation in net offer prescribes category-specific allotments with reserved subcategories and reallocation for unsubscribed portions.
Allocation in the net offer prescribes percentage allocations among investor classes: a reserved portion for individual investors who apply at minimum application size, a portion for non-institutional investors, and the remainder to qualified institutional buyers with a sub-allocation to mutual funds; unsubscribed shares in any category may be reallocated to other categories. For book-built issues the non-institutional portion is split by application-size subcategories with reciprocal reallocation; for non-book-built issues a minimum proportion is reserved for minimum-size individual applicants and the balance is allotted among other individual and institutional applicants.
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