Initial Public Offering
Underwriters and Syndicate
SEC Filings
Valuation
Pricing the deal and managing risk
Mechanics of IPO
Type of Offerings
Why Need IPO
1. Raise money to grow the company.
3. Balance sheet restructuring.
Process of Alibaba Setting IPO
- Announce a final price and deal size
Two to three weeks before the IPO
- Determine the price and size
Road show
Pros & Cons
Three months or more before the IPO
- Securities and Exchange Commission (SEC)
Big day !
Roughly six months before IPO
- Show off the company to bankers
- Greater liquidity
- Better access to capital
Behavioural Theory
IPO Puzzles
Agenda
Introduction
How IPO works
Case Study - ALIBABA
IPO Puzzles
Q & A
FINA2222 - Corporate Financial Policy
Raising Equity capital
Group 5:
Vanesa Yu
Shawn Baker
Alex Jiang
Andrew Fontaine
Sources of Funding
Thanks
for listening!
Angel Investors
Venture Capital &
Private Equity Firms
Corporate Investors
Institutional Investors
Primary and Secondary Offerings
Best-efforts IPO
Firm commitment IPO
Auction IPO
How to Raise
Equity Capital?