float
verb
uk/fləʊt/ us [ I or T ] STOCK MARKET
to offer new shares or bonds for sale on a financial market:
The authority has recently floated a $170 million bond to pay for some of the installation costs.
[ I or T ] STOCK MARKET
to sell shares on a stock market for the first time in order to finance a new company:
There are several new businesses looking to float.
float (sth) on the stock market/stock exchange etc. The group is planning to float on the New York Stock Exchange later this year.
float at $3/200p/ etc. (a share) The stock was floated at 233p a share last July and closed up 3.75p last night at 286.25p.
Last January the chief executive said he would only float the company if there was a "dramatic" revival in the market.
[ I or T ] ECONOMICS
if a country floats its currency, or if the currency floats, the government no longer controls its value in relation to the value of other currencies:
Central Bank is planning to stop letting the peso float freely.
[ T ]
to make a suggestion, especially one for doing something that is different from what has been done in the past:
float an idea/proposal/suggestion The partnership idea was floated at a Senate Foreign Relations Committee hearing last year.
[ I ] FINANCE
if a price or amount floats, it changes:
In the space of a few weeks, stock valuation floated up by 15%.
float
noun
uk/fləʊt/ us [ C ] STOCK MARKET (mainly UK also flotation)
a situation in which a company offers shares for sale on a stock market for the first time:
The stock has been one of the great out-performers of recent times, rising more than 90% since the company's float 11 years ago.
The planned flotation of the new Internet portal has been postponed.
a $90 billion/£350 million, etc. float Bank of China is poised to file for $8 bn float.
Shares are currently below their 330p-a-share float price.
Companies must file an initial registration statement under the Exchange Act before commencing a public float.
[ S ] ECONOMICS
a situation in which a government no longer controls the value of its country's currency in relation to the value of other currencies:
The float of the currency triggered a period of turbulence in Asian financial markets.
See also
dirty float
[ U ] BANKING
money that becomes available for a bank to spend before customers' cheques are paid:
The speed of electronic processing has all but eliminated the need for float.
[ C ] COMMERCE
cash that is available to give as change to customers at the start of business each day
[ C ] MONEY UK
→ petty cash