alternatives. The purpose is to raise capital from Hertz by issuing and IPO. The second option is an LBO. The “Bidding Group”, is the buyer for the LBO, which consists of Carlyle, Clayton, Dubilier, and Rice. They are from the Merrill Lynch Global Private Equity group. The question is what should the minimum and maximum price be accepted and paid for such deals. The Minimum price that Ford should accept for Hertz is the price of the IPO, which is 13.7 billion. This calculation is based on the pro froma
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IPO pricing and allocation: a survey of the views of institutional investors * Tim Jenkinson Said Business School, Oxford University and CEPR Howard Jones Said Business School, Oxford University Abstract Despite the central importance of investors to all IPO theories, relatively little is known about their role in practice. In this paper we survey institutional investors about how they assess IPOs, what information they provide to the investment banking syndicate, and the factors they believe
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One, the CEO and his Board believe that in order to keep pace with demand and realize conservative annual growth targets of 40 percent, Gene One is going to have to go public within the next three years. The time seems right, but the company needs IPO capital for new development, advertisement, and marketing if it is to remain successful. Working toward a 36-month maximum deadline, the CEO and his Board have devised a clear strategy with the help of key members in the investment community. It
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What are the prime procedures to be listed in Dhaka stock exchange? There are three possible ways to get listed with Dhaka Stock Exchange Limited : * Listing after Initial Public Offer (IPO) * Offloading of Shares of Government owned companies and become listed under Dhaka Stock Exchange (Direct Listing) Regulations 2006 * 3.Unlisted Subsidiaries of listed companies can become listed through issuance of specie dividend, right shares or any similar distribution in accordance with The
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known food store. The owner Kathy Kudler is thinking about going public through an IPO. There are four approaches that need to be looked at from the IPO stand point. They are strength, weakness, opportunity and threat. Strength When a private company is thinking about raising money in the financial market an initial public offering (IPO) has advantages. By going with an IPO Kudler generates revenue from the sale of shares of stock in the company. The owner
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660,000 Heng Huat Shares representing approximately 7.12% of the Group’s enlarged issued and paid-up share capital which will be offered by the Offeror to selected investors. * Public Issue The Public Issue comprises of 46,500,000 Public Issue Shares at the IPO Price of RM 0.45 each which represents approximately 22.59% of the Group’s enlarged issued and paid-up share capital. In particular, the IPO of 46,500,000 Public Issue Shares comprises of: 1. Public Tranche : 7,000,000 Public Issue Shares
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INITIAL PUBLIC OFFERINGS (IPOs) REGULATIONS & PROCESS Options for Raising Funds Fund Raising Options Debt Equity IPO FPO Hybrid From Banks & FIs Various forms of Convertibles In India Public issue of Bonds/Debentures Rights Issue Pref. Issue outside India ECB ADR/GDR FCCB & FCEB Why IPOs? For Funding Needs •Funding Capital Requirements for Organic Growth •Expansion through Projects •Diversification •Funding Global Requirements •Funding Joint Venture
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aims at 40% growth in 36 months, thus, it needs an IPO to respond to the demand and meet their targets. The venture capital will allow Gene One to develop new technologies, increase their exposure, and strengthen the brand. The CEO, Don Ruiz, received board approval and is poised to implement his plan with the help of his senior executives. Similarly, other companies that have reached the growth of Gene One have used the prospects of an IPO to develop newer products, advance their technologies
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Options for Implementing a Leadership Change Gene One is moving into the future by transitioning from a private company into an Initial Public Offering (IPO). Becoming an IPO means the executives who have investments in Gene One will give up their limited ownership and make the investments and ownership available to the public. (The IPO Process, 2009). Such a transition is bound to create conflict and disharmony, and executives at Gene One have mixed feelings about the change. (University of
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rather than an IPO may be the preferred exit opportunity. * Private markets on the other hand, may benefit here since going public is a burden. * ETFs, Mutual Funds, and other retail investment vehicles now invest into these private transactions. This gives the retail investor a way to invest in private markets. This will make going public a sub optimal exit strategy. Why bother to do an IPO? * If a company can stay private and find money and liquidity why do an IPO? IPOs have the following
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