• The bookrunner is the principal underwriter or lead coordinator of the issuance of new equity, debt or securities.

  • In investment banking, a bookrunner is the lead underwriting firm that maintains or is in charge of the books at the time of the issuance of new shares of the client firm.
  • The bookrunner acts as the lead underwriter and usually works with other investment banks to form an underwriter syndicate, thereby creating the initial share sales department.
  • In a leveraged buyout, the bookrunner represents one of the participating firms and works with other participating firms.