The Fundamental Principles of Financial Regulation, Geneva Reports on the World Economy 11, 2011 1. Introduction 2. IPO regulation 3. Listing firms regulation 4. Bank regulation 5. Regulation system 6-10 Special topics 5 Special topics • 外资银行的监管:阎淬, 摩根大通银行（中国）有限公司哈尔滨分 行行长, 3月26日，9-12, 14-17 • 金融稳定: 杨聘, 中国人民银行研究局, TBD • TBD Is it relevant to us? 7 IPO注册制 • 2015年12月27日， 十二届全国人大常委会第十八次会议在北京经 表决，通过了关于授权国务院在实施股票发行注册制改革中调整 适用《中华人民共和国证券法》有关规定的决定。 中国现行股票 发行实行的是核准制度，是由证券法确立的。实施股票发行注册
Words: 1895 - Pages: 8
Advanced Financial Models Example sheet 1 - Michaelmas 2010 Michael Tehranchi Problem 1. In a one-period model, a num´raire asset is called risk-free if its time-1 price e i i is not random: if asset i is risk-free, then S1 = (1 + ri )S0 for a real constant ri > −1, called the risk-free rate of return. Suppose that a market model has at least one risk-free asset. Show that if there is no arbitrage, then the risk-free rate of return is unique, in the sense that if both asset i and asset
Words: 1431 - Pages: 6
INITIAL PUBLIC OFFER Initial Public Offering (IPO) is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves way for listing and trading of the issuer’s securities. SPECAL 1.0 Book Building - About Book Building Book Building is basically a capital issuance process used in Initial Public Offer (IPO) which aids price and demand discovery. It is a process used for marketing a public offer
Words: 9784 - Pages: 40
Key factors in IPO 1. Effective management team As a company prepares for its IPO, it must expand its management capabilities. Who runs a company is what sells the IPO. Investors expect to see very knowledgeable, experienced professionals who are committed to the long-term success of the company. Thus, the company has to hire some individuals with public company experience in marketing, operations, development, and finance. And the company may also put in place a CFO, who has previously been through
Words: 549 - Pages: 3
Airways IPO Valuation - Jing Zhang ( 23913134 ) A company issue stocks to generial public at its first time on a security exchange is call Initial Public Offering( IPO ). Initial Public Offering enable a company to raise capital from the public rather than private investors or institutions. IPO is considered as such a big deal for a company mainly because the company become a public corporation and have to be monitored by general pubic after IPO. Going public
Words: 922 - Pages: 4
International Public Offering (IPO) For A Global Firm Team D FIN/370 September 13, 2015 Joe Brennan (Introduction) An Initial Public Offering (IPO) is the means by which privately held companies transition into publicly traded companies. Hence the phrase, “taking a company public.” From an organizational standpoint, taking a company public is one of the biggest decisions a company’s board of directors will make in the company’s lifetime. The transition from a privately-held
Words: 1162 - Pages: 5
At the given time, when compared to other internet related IPO's that were around $12-17 per share, doubling the cost doesn't seem justifiable. However, Netscape was hands down, the leader of web browsing at the time with its nearest competitor targeting a different market. We would argue that the internet related IPO's are not directly comparable because of Netscape's popularity already. Additionally, the underwriters had already seen an overwhelming oversubscription causing them to raise the amount
Words: 254 - Pages: 2
Part I Portfolio Theory 1. Introduction Before discussing the portfolio, it is important to make sure the following concepts are understood: E¢cient Portfolios: That is when investors seek to maximize the expected return from their investment given some level of risk they are willing to accept. Risk Aversion: Individuals according to those theories are assumed to be risk averse: is one who, when faced with two investments with the same expected return but two di¤erent risks, will prefer the
Words: 8403 - Pages: 34
Step 1 Prepare a disclosure document. This is to be approved by the Board, making sure all the information is correct and not misleading. A disclosure document should contain the facts that an investor needs to make an informed investment decision. Disclosure documents are very important as they contain information to help you assess the benefits, risks, rights and obligations associated with a warrant, and the issuer's capacity to fulfil its obligations. In the disclosure document you can
Words: 471 - Pages: 2
1. A empresa teve como vantagem o pioneirismo no ramo no qual atuava, a Netscape foi o primeiro dos navegadores de internet a surgir no mercado, gozando, por isso da vantagem de se tornar em um curto período de tempo com o seu servidor Netscape Communicator e Netscape Comercial. Por um tempo, ele era o líder indiscutível de sua espécie. Isso significa que ele era capaz de ter o mais alto reconhecimento da marca e ainda ter altíssimo índice de fidelização de clientes desde o início. 2. Elevado
Words: 300 - Pages: 2
