§ Mr. Chris Smithasked the Chancellor of the Exchequer if he will list all the underwriters and sub-underwriters, both United Kingdom-based and foreign, committed to the current BP share offer, and the maximum proportion of financial commitment in each case.
§ Mr. Norman LamontThe obligations of the United Kingdom and overseas underwriters for the BP offer are set out in paragraph 7 of section 10 of the United Kingdom prospectus, a copy of which has been placed in the Library.
The names of the 17 United Kingdom underwriters are given on page 1 of the United Kingdom prospectus. However, in the United Kingdom this underwriting risk has been passed on to a large number (measured in hundreds) of sub-underwriters, generally investors such as United Kingdom pension funds and insurance companies. The United Kingdom underwriters are liable to take up shares to the extent they are not taken up by sub-underwriters.
The four United States underwriters are Goldman, Sachs & co., Morgan Stanley & Co. Incorporated, Salomon Brothers Incorporated and Shearson Lehman Brothers Incorporated.
The three Canadian underwriters are Wood Gundy Inc., McLeod Young Weir Limited and Dominion Securities Inc.
The five Japanese underwriters are Daiwa Securities Co. Ltd., the Nomura Securities Co. Ltd., the Nikko Securities Co. Ltd., S. G. Warburg Securities (Japan) Inc. and Yamaichi Securities Company, Limited.
The 87 European underwriters are as follows.
- Swiss Bank Corporation International Limited
- Algemene Bank Nederland NV
- Banca Commerciale Italiana
- Banque Bruxelles Lambert SA
- Banque Nationale de Paris
- Banque Paribas Capital Markets Limited
- Commerzbank Aktiengesellschaft
- Creditanstalt-Bankverein
- Credit Suisse First Boston Limited
- Deutsche Bank Capital Markets Limited
- Dresdner Bank Aktiengesellschaft
- EBC Amro Bank Limited
- Enskilda Securities—Skandinaviska Enskilda Limited
- Generale Bank
- Girozentrale under Bank der osterreichischen Sparkassen
- Aktiengesellschaft
- Mediobanca—Banca di Credito Finanziario SpA
- Pierson, Heldring & Pierson NV
- Swiss Volksbank London Branch
- Union Bank of Switzerland (Securities) Limited
- Die Erste osterreichische Spar-Casse—Bank
- Genossenschaftliche Zentralbank Aktiengesellschaft
- Osterreichische Landerbank Aktiengesellschaft
- Zentralsparkasse und Kommerzialbank Wien
- Banque Inernationale a Luxembourg SA
- Dewfin SA
- Kredietbank NV
- Kredietbank SA Luxembourgeoise
- Petercann Securities SA
- Bayerische Hypotheken-und Wechsel-Bank Aktiengesellschaft
- Bayerische Landesbank Girozentrale
- Bayerische Vereinsbank Aktiengesellschaft
- Berliner Handels-und Frankfurter Bank
- DG BANK Deutsche Genossenschaftsbank
- Hamburgische Landesbank—Girozentrale
- Schweizerischer Bankverein (Deutschland) AG
332 - Vereins-und Westbank Aktiengesellschaft
- Westdeutsche Landesbank Girozentrale
- Banque Indozuex
- Banque de I'Union Europeenne Caisse Centrale des Banque Populaires
- Caisse des Depots et Consignations
- Caisse Nationale de Credit Agricole
- La Compagnie Financiere Edmond de Rothschild Banque
- Credit Commercial de France
- Credit Industriel et Commercial de Paris
- Credit Lyonnais
- Lazard Freres et Cie
- Rothschild et Associes Banque
- Societe Generale
- Banca Nazionale del Lavoro
- Banco di Roma
- Credito Italiano
- Istituto Bancario San Paolo di Torino
- SIGE SpA
- Bank Mces & hope NV
- F van Lanschot Bankiers NV
- Nederlandsche Middenstandsbank nv
- Cooperative Centrale Raiffeisen-Boerenleenbank BA (Rabobank Nederland)
- Bergen Bank A/S
- Den norske Creditbank
- Den Danske Bank of 1871 Aktieselskab
- Kansallis-Osake-Pankki
- Privatbanken A/S
- Svenska Handelsbanken PLC
- Union Bank of Finland Ltd
- Banca del Gottardo
- Banca della Svizzera Italiana
- Bank in Liechtenstein AG
- Bank J Vontobel & Co AG
- Banque Paribas (Suisse) SA
- Compagnie de Banque et d'Investissements
- Darier & Cie
- HandelsBank NatWest
- MM Hentsch & Cie
- Julius Baer International Limited
- Leu Securities Limited
- Lombard, Odier International Underwriters SA
- Pictet International Ltd
- Privat Kredit Bank
- Rothschild Bank AG
- Sarasin Investment Management Limited
- Swiss Cantonalbanks
- Unigestion SA
- SG Warburg Soditic SA
- Banco de Bil:o SA
- Banco Hispano Americano SA
- Banco Santander de Negocios
- Banco de Vizcaya
§ Mr. Chris Smithasked the Chancellor of the Exchequer if he will institute inquiries into discussions which have taken place between certain underwriters of the current BP share issue about the organisation of concerted buying operation to lift the price of existing BP shares on the market and if he will make a statement.
§ Mr. Norman LamontIf the hon. Member has evidence of any activity of this nature in connection with the BP share sale, he should notify me immediately.