G-III Apparel Group 1. How sound was G-III’s business? Was it suitable for an IPO? G-III’s business was based on consumer consumption of leather goods. While leather was a hot fashion item‚ and growth rate projections were expected to grow at about 3.5% in 1989-1990‚ the general economic conditions during this time period had increased such that people had more disposable income to spend on apparel. This brings up an interesting point-G-III’s business was based on the fickle tastes of consumers
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ROLE OF CAPABILITY FORMATION AND USE IN VALUE CREATION FOR IPO-STAGE NEW VENTURES A Dissertation by TIMOTHY R. HOLCOMB Submitted to the Office of Graduate Studies of Texas A&M University in partial fulfillment of the requirements for the degree of DOCTOR OF PHILOSOPHY August 2007 Major Subject: Management ORGANIZATIONAL RESOURCES‚ INDUSTRY MEMBERSHIP‚ AND FIRM PERFORMANCE: THE ROLE OF CAPABILITY FORMATION AND USE IN VALUE CREATION FOR IPO-STAGE NEW VENTURES A Dissertation by TIMOTHY R. HOLCOMB
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achieved when VCs sell their stake in the business through IPOs or trade sale. Thus‚ VCs will work to ensure the business is sound so that it will fetch the highest possible price when going public. Investment Banks – They provide advisory financial services‚ price the IPO‚ underwrite the shares as well as introduce the company to the public. They are then paid a commission fee based on the amount the company manages to raise in the IPO. Thus to maximize their fees‚ IBs are motivated to pick the
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Act‚ 1956 on 15 th January‚ 1996 at New Delhi and obtained the Certificate of Commencement of Business on 23 rd January‚ 1996) Registered Office : E - 993‚ Chittaranjan Park‚ New Delhi - 110 019. Tel: 011-6222123‚ 6216473‚ Fax: 011-6230813 E-mail: ipo@globsyn.co.in Website: www.globsyn.com Corporate Office: Enkay Tower‚ B & B1 Vanijya Nikunj‚ Udyod Vihar Phase V‚ Gurgaon - 122016 OFFER OPENS ON: Tuesday‚February 13‚ 2001 OFFER CLOSES ON: Tuesday‚February 22‚ 2001
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capital. The internet was going to destroy their business and push them out of the business. At the same time‚ these virtual financial markets created strong financial risks to those companies involved with online IPOs and they had an option to choose between traditional approach and online IPOs. This paper analyses how Charles Schwab was successful in putting Merrill Lynch business in danger by providing almost the same type of services online. INTRODUCTION In the past few years there has been a growth
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NOTE TO USERS This reproduction is the best copy available. ® UMI R ep ro d u ced with p erm ission o f th e copyright ow ner. Further reproduction prohibited w ithout perm ission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Graduate School Form 9 (Revised 6/03) PURDUE UNIVERSITY GRADUATE SCHOOL Thesis Acceptance This is to certify that the thesis prepared Bv Entitled TH E EV O LU TIO N O F O W N ERSH IP AND BOARD STRUCTURES
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that wants to expand operations‚ and is faced with three options for expansion: • Going public through an IPO • Acquiring another organization in the same industry • Merging with another organization Team A has defined the strengths of each approach for McBride Financial Services by doing a SWOT analysis. The strengths of McBride going public through an IPO is the gain of capital. An organization like McBride will raise a large amount of cash with going public. McBride
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asymmetry costs could lead to IPO underpricing (Rock‚ 1986; Welch‚ 1989). Investors have to gather information‚ and this is a costly process‚ so they will only accept lower prices (Draho‚ 2004). This is especially the case for an IPO that targets many investors (Chemmanur and fulghieri‚ 1999). Maug (1999) calls this
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financing to support the new research that will enable Gene One to meet these growth figures. Gene One faces several challenges for a successful IPO. First is the lack of IPO experience in the company. No one at the company has had any experience with this and it will be necessary to bring in external help. Second is the fact that not everyone agrees with the IPO. Third‚ Gene One must develop a new organizational plan and structure that will help ensure the success of this new endeavor. This needs to
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the time they did‚ a good idea for JetBlue? * What do you believe JetBlue stock is really worth? * Does the financial forecast in case Exhibit 13 seem reasonable? * What are the key assumptions in the IPO valuation? * Is the length of the forecast period within the IPO valuation (exhibit 13) reasonable? * What discount rate is appropriate for the cash flow forecast? * How would you suggest estimating the terminal value? What assumptions have you made? How have your assumptions
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