Sale through Accelerated Book Build

Business requirement

The client and his partners wish to sell part of their stake in the GDRs of a local company


The clients open cash accounts with a participating bank and transfer the GDRs over to the bank.

The bank operates an Accelerated Book Build (ABB) process marketing to international investors and fixes a price based on demand.

The clients have to assume the placement and market risk during the period of book-building

At the end of the ABB the bank delivers the shares to the investors.