2014年ESL之商务英语 23 Launching an Initial Public Offering

（单词翻译）

Launching an Initial Public Offering 

Zoe: What are you looking at? 

Midas: It’s the prospectus¹ for Boogle’s IPO. I wish I could get in on the initial public offering, but since I can’t, I’ll buy stock as soon as the company becomes publicly traded. 

Zoe: I’m not really familiar with how the stock market works. You mean you’re going to buy shares in Boogle? 

Midas: That’s right. An IPO is a way for a privately² owned company to become a publicly owned one. The owners of the company do it to raise capital, or sometimes it’s for early investors³ to cash in. 

Zoe: Why can’t you buy stock in the initial public offering? 

Midas: A company like Boogle works with an underwriter, like a major investment bank, to help set the share price and to find buyers for the initial offering. 

Zoe: Okay, I’m following you so far. 

Midas: Well, that first sale of stock is usually done in bulk, and I don’t have a few million dollars lying around to buy that much stock. Luckily for me, those first buyers then turn around and sell that stock in smaller amounts. 

Zoe: And that’s when you’ll buy. 

Midas: That’s right. You should get in on it, too. 

Zoe: You mean buy some Boogle stock? 

Midas: Sure, why not? 

Zoe: And risk losing my shirt? No, thanks! 

Script by Dr. Lucy Tse