Meaning of “bought deal” in the English Dictionary

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"bought deal" in Business English

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bought dealnoun [ C ]

uk us

STOCK MARKET, FINANCE an arrangement in which a company sells shares to a bank or financial organization, which then sells the shares to investors:

The bank handled a bought deal of one million shares, buying at £697 and selling at £700.

(Definition of “bought deal” from the Cambridge Business English Dictionary © Cambridge University Press)