A stockbroker, bank, building society, or other financial intermediary appointed by the government to promote and handle applications for shares in a privatization issue. The purpose of these share shops is to enable those members of the public who do not usually buy shares to purchase publicly offered shares without difficulty. Share shops act on behalf of members of the public but members of the public pay no commission. Commission is paid to the share shops by the government on successful share applications. Share shops exist only for the duration of the public share offer. See also retail tender.
Subjects: Financial Institutions and Services.