Banken for en verden i endring The bank for a ... - BNP Paribas

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Banken for en verden i endring The bank for a ... - BNP Paribas

• glossary

M & A Mergers & Acquisitions.

Market capitalisation Value attributed to a company by the stock market. Market capitalisation corresponds to the share price multiplied

by the number of shares outstanding.

Market-maker/

Market-making contract

MONEP (Marché d’Options

Négociables de Paris)

OAT (Obligation Assimilable

du Trésor)

OCEANE (Obligation Convertible

En Actions Nouvelles ou

Existantes)

Market-makers commit to maintaining firm bid and offer prices in a given security by standing ready to buy round lots

at publicly-quoted prices. Market-making contracts generally concern mid-cap stocks and are intended to enhance

the stocks' liquidity. In France, market-making contracts (contrats d'animation) are entered into between Euronext,

the issuer and a securities dealer.

Paris traded options market, including CAC 40 index options and equity options.

French government bonds.

Bond convertible for new shares or exchangeable for existing shares of the issuer.

Offshoring Offshoring refers to the relocating of certain companies’ services to low-wage countries.

OPA (Offre Publique d’Achat) French acronym for a public tender offer for cash.

OPE (Offre Publique d’Échange) French acronym for a public stock-for-stock tender offer.

OPF (Offre à Prix Fixe) French acronym for a public offering of securities at a set price.

OPR (Offre Publique de Retrait) French acronym for a compulsory buyout offer (final stage in a squeeze-out).

OPRA (Offre Publique

de Rachat d'Actions)

French acronym for an offer to buy out the minority shareholders of a company that is already largely controlled

(first stage in a squeeze-out).

224

GLOSSARY

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