overallotment option 超額配股權

overallotment option (aka greenshoe option)
繁：超額配股權（綠鞋期權）
简：超额配股权（绿鞋期权）

所谓“绿鞋期权”(green shoe options)，或者“绿鞋机制”，就是承销商根据市场对股票的需求，在上市公司计划配发的股票数量之外，向上市公司申请额外配发一部分股票。“绿鞋”由美国名为波士顿绿鞋制造公司1963年首次公开发行股票(IPO)时率先使用而得名，是超额配售选择权制度的俗称。该机制可以稳定大盘股上市后的股价走势，防止股价大起大落。

陳聿敏（2014年9月23日）。承銷商已行使綠鞋期權 阿里登頂全球最大IPO。錢江晚報，B01版。

The term greenshoe never appears in Alibaba’s prospectus. The technique is instead called an “overallotment option.” It gives the underwriters the ability to issue more shares than the original offering size.

If Alibaba’s price declined in the first day of trading, the banks would effectively close their short position by buying shares from the public market to pad — or even reverse — the fall.

Picker, L. (2014, September 23). How Alibaba Boosted Its IPO Size by Taking a Walk in Greenshoes. Bloomberg Business. Retrieved from http://www.bloomberg.com/news/articles/2014-09-22/how-alibaba-boosted-its-ipo-size-by-taking-a-walk-in-greenshoes.