98.经济学人-If you see Sid, tell him-6

Other than book-building ipos, firms have two more ways of going public.

Auctioning shares to the highest bidders, as Google did in 2004, or selling shares directly without underwriters and without raising capital, a route taken recently by Spotify, a music-streaming service, and Slack, an office-communications firm.

Notwithstanding Google’s success, auctions are unpopular.

Ms Sherman and two fellow academics, Ravi Jagannathan and Andrei Jirnyi, have studied ipo auctions in at least 25 countries, including Singapore, Taiwan, Turkey and France, and found that they were abandoned in virtually all of them. In Japan they were mandatory in 1989-97. They vanished soon after issuers became free to choose.

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这是《经济学人》10月刊的一篇文章'If you see Sid, tell him'第7、8段，共4句。

1、

直接翻译：除了询价圈购之外，企业还有另外两种方式上市募资

询价圈购是指承销商在现金增资前,先进行推广活动,并由潜在投资者无拘束力的预购订单中,得知市场对于释股的需求,并进而作为制定承销价的依据。

2、

{'Auctioning':'v.拍卖'}

{'bidders':'竞标者'}

{'route':'途径，渠道'}

直接翻译：将股票拍卖给出价最高者，就像2004年谷歌那样，或者像音乐媒体服务商Spotify和职场聊天服务公司Slack那样，直接出售股票，不经过承销商也不需要抬升资本价值。

3、

{'Notwithstanding':'尽管'}

尽管谷歌是成功的，但是它的拍卖并不流行。

4、

{'academics':'科研人员'}

{'mandatory':'强制的，法定的'}

{'vanished':'突然消失'}

{'issuers':'发行人'}

Sherman女士与她的两位科研人员，Ravi Jagannathan 和 Andrei Jirnyi，在至少25个国家研究了关于ipo竞拍，包括新加坡、台湾、土耳其和法国，发现他们几乎都放弃了ipo拍卖。在日本，1989-1997年之间ipo拍卖是强制的，但是当限制取消之后，它也很快就消失了。

--总结--

没有太难的语法结构

【词汇部分】

{'Auctioning':'v.拍卖'}

{'bidders':'竞标者'}

{'route':'途径，渠道'}

{'Notwithstanding':'尽管'}

{'academics':'科研人员'}

{'mandatory':'强制的，法定的'}

{'vanished':'突然消失'}

{'issuers':'发行人'}