The underwriting spread. The difference between the price that an underwriter or underwriting syndicate pays to the issuer and the price that is received from investors who buy the issue. The concession is the income earned by the underwriter. American Banker Glossary
The per-share> or per- bond compensation of a selling group for participating in a corporate underwriting. Bloomberg Financial Dictionary

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concession con‧ces‧sion [kənˈseʆn] noun [countable]
1. COMMERCE the right to carry out a particular business activity, given or sold to a company by a government or other public organization:

• BellSouth paid B$2.65 billion for the concession to operate cellular phones in São Paulo.

• The company was granted a concession to build a 364 km stretch of the Warsaw-to-Berlin motorway.

2. COMMERCE a small shop in a hotel, theatre, office building etc owned and managed by another business:

• Snack concession sales per person at cinemas have increased.

3. an agreement or rule allowing someone to pay less money, tax etc than they would normally pay:

• American Express offered a rate concession to Laura Ashley's UK operations.

• The tax concessions apply only after the savings account has been held for five years.

4. FINANCE the amount paid to an underwriter when new shares or bonds are made available for the first time:

• a public offering of 8 million common shares, priced at $16 a share through underwriters Morgan Stanley - selling concession is 61 cents

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concession UK US /kənˈseʃən/ noun
[C or U] something that you agree to give someone or allow them to do, especially in order to end an argument or disagreement: concession to sb »

As a concession to environmental groups, the energy giant agreed to scale down its coal plant expansion plans.

demand/seek concessions »

The administration has demanded concessions from auto workers as part of the ""viability plan"" it is preparing.

offer/make concessions »

We would be prepared to make concessions in order to reach an agreement.

See also CONCEDE(Cf. ↑concede)
[C] COMMERCE a small business that is allowed to sell goods, food, or services on property owned by someone else, for example, inside an airport or a large store: open/operate/run a concession »

The furniture and homeware retailer has recently opened its first concession within a garden centre.


Fans were stocking up on hamburgers and hotdogs at the concession stand.


airport/hotel/stadium concessions

[C] COMMERCE official permission to carry out a particular type of business, or to own or do work on a particular piece of property or land, given by a government or company: »

The government plans to sell a 50-year concession to operate the southeastern rail line.

award/grant a concession »

We are delighted to have been awarded the concession for the development of the airport.


The mining company was granted a concession agreement to mine and market diamonds.

[C] mainly UK a reduction for particular groups of people in the amount of money that has to be paid for something: give/offer concessions »

Many railways offer fare concessions for passengers with disabilities.


Tax concessions will be made available to non-profit organizations.

[C] FINANCE, STOCK MARKET the amount of money that an underwriter receives as payment when new shares are sold to the public for the first time: »

Investment bankers compensate members of the selling syndicate through payment of a selling concession, which is a type of sales commission.

Financial and business terms. 2012.

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Look at other dictionaries:

  • concession — [ kɔ̃sesjɔ̃ ] n. f. • 1264; lat. concessio 1 ♦ Action de concéder (un droit, un privilège, une terre); acte qui concède. ⇒ cession, 1. don, octroi. Concession d un privilège (⇒ charte) . Faire la concession d un terrain. Concession commerciale,… …   Encyclopédie Universelle

  • Concession — may refer to: Concession (politics): failure to challenge or cessation of challenging, as in conceding an election or conceding a game . Concession (contract): a contracted out service, as in concession stand. A contractual right to carry on a… …   Wikipedia

  • concession — con·ces·sion n 1: an act or instance of conceding or yielding 2: something conceded: as a: acknowledgment admission b: something granted esp. as an inducement (as to enter into an agreement) c: a grant of real property esp. by a gov …   Law dictionary

  • concession — CONCESSION. s. f. Le don et l octroi qu un Souverain ou un Seigneur de quelque Terre, fait de quelque privilége, de quelque droit, de quelque grâce, etc. Ce privilége est une concession d un tel Roi. Ils ont eu ce droit, etc. par la concession d… …   Dictionnaire de l'Académie Française 1798

  • Concession — Con*ces sion, n. [L. concessio, fr. concedere: cf. F. concession. See {Concede}.] 1. The act of conceding or yielding; usually implying a demand, claim, or request, and thus distinguished from giving, which is voluntary or spontaneous. [1913… …   The Collaborative International Dictionary of English

  • concession — mid 15c., from O.Fr. concession (14c.) or directly from L. concessionem (nom. concessio) an allowing, conceding, noun of action from concess , pp. stem of concedere (see CONCEDE (Cf. concede)). Meaning right or privilege granted by government is… …   Etymology dictionary

  • concession — [kən sesh′ən] n. [ME & OFr < L concessio < concessus, pp. of concedere] 1. an act or instance of conceding, granting, or yielding 2. a thing conceded or granted; acknowledgment, as of an argument or claim 3. a privilege granted by a… …   English World dictionary

  • Concession — (v. lat.), die Erlaubniß einer Regierung, ein bürgerliches Gewerbe unter gewissen Bedingungen zu betreiben. Die C. gilt nur für die Person, welcher sie ertheilt ist (Concessionär), u. kann nicht durch Erbschaft od. Kauf an eine andere übertragen… …   Pierer's Universal-Lexikon

  • Concession — Concession, lat., Zugeständniß; obrigkeitliche Ermächtigung zu einem Betrieb; Concessionar, der Inhaber einer solchen C.; concessioniren, ermächtigen, genehmigen; concessionirt, genehmigt, erlaubt. Concessive, einräumend, nachgebend …   Herders Conversations-Lexikon

  • concession — *allowance Analogous words: favor, boon, *gift: indulgence, leniency, tolerance, forbearance (see under FORBEARING) …   New Dictionary of Synonyms

  • concession — [n] yielding, adjustment acknowledgment, admission, allowance, assent, authorization, boon, buyback, compromise, confession, copout*, deal, giveback, giving in, grant, indulgence, permission, permit, privilege, rollback, sellout, surrender, trade …   New thesaurus

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