North American Product Classification System (NAPCS) Canada [Provisional Version 0.1]

52 - Financial and insurance services

523001 - Investment products

523001.1 - Securities origination products

These products assist the issuers of securities (businesses and governments) in creating their securities, and having them distributed to the investing public. The service may involve advising the issuer; purchasing the securities and selling them (underwriting); or acting as an agent in marketing the securities.

523001.1.1 - Public offering products

Public offering products are services to issuers of securities, to create the initial issue of the security and arrange for its distribution to the public. The terms of the service are defined in an underwriting agreement. The underwriter may purchase the securities from the issuing company, and sell them, or may act as an agent to distribute the securities to investors. If the entire authorized issue is not immediately released to investors, subsequent distributions of the remaining securities (known as secondary distributions) by the underwriter are included in this product.

523001.1.2 - Private placement of securities

Services to issuers of securities, to create the initial issue of the security and arrange for its sale directly to a private group of investors.