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    Hey,

    Does anyone know the difference between what a bookrunner, co-ordinator, sponsor, financial adviser is?

    I.E (from the FT):
    Morgan Stanley, Deutsche Bank are acting as global coordinators, while JPMorgan Chase, UBS are joint bookrunners and Lazard is advising Nets.

    My understanding is bookrunner is the lead IB ( so what all the banks are vying for? )

    What does the global coordinator mean, are they just co managers so JPM/UBS would be acting lead on the above deal and then work with MS/DB on less important stuff?

    Also has anyone heard of 'sponsor banks' in an IPO deal, what is their role?
 
 
 
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