Book Running Lead Manager

A book running lead manager (also known as the book runner) is the primary entity responsible for managing the underwriting process when new shares or securities are issued, most commonly during an Initial Public Offering (IPO). The book runner plays a critical role in the successful execution of the offering. Key responsibilities of the book running lead manager include: 1. Performing due diligence to ensure all information is accurate and complete. 2. Determining the final offering price based on market conditions and demand. 3. Recording and tracking interested buyers to gauge demand. 4. Confirming orders from investors. 5. Guaranteeing the purchase of shares, ensuring that the company raises the intended amount of capital. In the past, physical ownership certificates were issued for shares, and selling them required transferring the certificate to the buyer. Today, the process is digital and much more streamlined.