|Your average private
Underwriters in Asia are fed up with inflated orders. The
practice itself – which sees investors request more
securities than they actually want, knowing the bookrunner
won't fill their entire order – is not isolated to
Asia's primary markets. But with a relatively large proportion
of the region's wealth controlled by high-net-worth
individuals, the private banks that steer these empires are
emerging as the prime culprits.
As one debt syndicate desk manager recently remarked: "You
see it less now these days, but we still...