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

• 52 - Financial and insurance services
• 523001 - Investment products
• 523001.1 - Securities origination products

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.