---------University Initial Public Offerings: Presenting to Markets ------------- FIN-323 ------ 8/16/2013 Table of Contents 1. Introduction I. Defining IPOs II. Detailing Pros and Cons III. Hypothesis to Offering timeline 2. Taking a Company Public I. S.E.C. regulations II. Stages of Market Introduction 3. IPO Valuation I. General Valuation II. Underpricing a. Reasons for Underpricing b. Feedback of Advantages and Disadvantages 4. Longevity and IPO Performance
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b. junk bonds. c. flotation costs. d. initial public offerings. e. financial futures. REGISTRATION STATEMENT b 2. The document(s) filed with the SEC disclosing all material information relating to the firm making an offering of public securities is called the: a. offering prospectus. b. registration statement. c. red herring filing. d. indenture contract. e. SEC Form 13-J. REGULATION A c 3. The SEC regulation that exempts public issues of less than $5 million from most
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OPINION OF THE COURT CIPARICK‚ J. Plaintiff‚ the Official Committee of Unsecured Creditors of EBC I‚ Inc.‚ formerly known as eToys‚ Inc.‚ brought this action against defendant Goldman‚ Sachs & Co.‚ the lead managing underwriter of its initial public stock offering‚ alleging five causes of action related to the underwriting agreement: breach of fiduciary duty‚ breach of contract‚ fraud‚ professional malpractice and unjust enrichment. We hold that plaintiff’s complaint fails to state claims for breach
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ID: 212018465 Name: Chaowei Jiang ID: 211676326 Word count: 1890 Executive Summary This report aims to investigate whether Australia has the short-run IPO underpricing phenomenon in its stock market‚ followed with a research of the initial returns and the 2-year holding period returns of 52 Australian firms as well as relevant reasons why Facebook’s IPO experienced a failure. Numerous sources of data and information have been utilized. Nowadays‚ the underpricing phenomenon is very common
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INITIAL PUBLIC OFFER VERSUS PRIVATE PLACEMNT Business is all about money. Whether starting a business or growing and expanding‚ business owners need money -better known as capital. This provides an opportunity for investors who trade their money for potential future profit. Both private placements and initial public offerings‚ or IPOs‚ are methods of raising capital for a business. Initial Public Offer (IPO) | Private Placement (P.P) | The first sale of stock by a company to the public. IPOs
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capital by initial public offering. Although initial price for shares was at first $14‚ underwriters suggested increase the price to $28 one day prior to the initial public offering. The board of Netscape was not sure of the high price and fell in dilemma because the firm didn’t have a long track record and IT industry was not easy to predict. Other than initial public offering‚ Netscape could raise capital from debt and private stock offering‚ or from angel investors. But going public seemed to
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navigate through turbulent times. One of the most significant events in the life of any company is becoming publically traded; when a company “goes public.” AVG Technology recently became a publically traded company‚ and the way they did that was through a traditional initial public offering (IPO) which was the right decision. When companies want to go public they must attain an IPO; there are two types of IPOs which are traditional IPOs or a auction based IPOs. The purpose of an IPO is to raise capital
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pressure and loss of market-share to a growing number of competitors. Many companies find it desirable to "go public" with an initial public offering (IPO) when their equity capital needs increase to the point where the opportunity cost of remaining private and compensating investors for the lack of liquidity becomes too great relative to the lower coat of capital derived from liquid public markets (Netscape ’s). Netscape ’s situation is somewhat unique in the fact that although its current book value
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Background Facebook’s IPO (Initial public offering) is one of the world’s largest initial stock offerings‚ raising $16 billion for the company. Facebook made its stock market debut on May 18 with an initial offering price of $38 per share‚ but closed at $38.23‚ a slight 0.61 per cent up (Associated Press‚ 2012). The typical big first-day pop in the share price seen in other technology companies’ IPOs that many investors had expected did not materialise. Instead‚ its stock price has tumbled since
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going public through an IPO‚ acquiring another company within the same industry‚ or merging with another organization. Comparing the strengths‚ weakness‚ opportunities‚ and threats of all three options will help Team D to make a smart decision. Strengths of Each Approach Privately held firms looking for ways to increase cash flows are faced with a few decisions to make. Some of the options businesses have to increase their cash flows are going public through an initial public offering‚ merging
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