英文名称：Underwriter 中文名称：承销商"指通过许可承担有价证券销售的机构。通常是从一家公司购入其发行的证券，然后再销售给投资者，可以说在证券市场中起到了中介的作用。e.g. The underwriters have an option to purchase up to an additional 5,625,000 ADSs from Melco PBL Entertainment at the follow-on Public Offering Price of US$15.50 per ADS less the underwriting discounts and commissions covering such over-allotments of ADSs. "