公眾股的發(fā)行方案探討(完整版)
【正文】 s the approval of the Board of Directors. – The firm prepares and files a registration statement with the SEC. – The SEC studies the registration statement during the waiting period. – The firm prepares and files an amended registration statement with the SEC. – If everything is copasetic with the SEC, a price is set and a fullfledged selling effort gets underway. McGrawHill/Irwin Copyright 169。 2023 by The McGrawHill Companies, Inc. All rights reserved. 193 The Process of A Public Offering Steps in Public Offering Time 1. Preunderwriting conferences 2. Registration statements 3. Pricing the issue 4. Public offering and sale 5. Market stabilization Several months 20day waiting period Usually on the 20th day After the 20th day 30 days after offering McGrawHill/Irwin Copyright 169。 2023 by The McGrawHill Companies, Inc. All rights reserved. 1911 The Costs of Public Offerings Equity Proceeds Direct Costs Underpricing (in millions) SEOs IPOs IPOs 2 % % % 10 % % % 20 % % % 40 % % % 60 % % % 80 % % % 100 % % % 200 % % % 500 and up % % % McGrawHill/Irwin Copyright 169。 2023 by The McGrawHill Companies, Inc. All rights reserved. 1919 The Private Equity Market ? The previous sections of this chapter assumed that a pany is big enough, successful enough, and old enough to raise capital in the public equity market. ? For startup firms and firms in financial trouble, the public equity market is often not available. McGrawHill/Irwin Copyright 169。 , March 17, 2023 ? 雨中黃葉樹，燈下白頭人。 2023年 3月 17日星期五 12時 53分 18秒 12:53:1817 March 2023 ? 1做前，能夠環(huán)視四周；做時，你只能或者最好沿著以腳為起點的射線向前。 。勝人者有力，自勝者強。 2023年 3月 17日星期五 下午 12時 53分 18秒 12:53: ? 1最具挑戰(zhàn)性的挑戰(zhàn)莫過于提升自我。 2023年 3月 17日星期五 12時 53分 18秒 12:53:1817 March 2023 ? 1空山新雨后，天氣晚來秋。 , March 17, 2023 ? 很多事情努力了未必有結(jié)果，但是不努力卻什么改變也沒有。 :53:1812:53Mar2317Mar23 ? 1故人江海別，幾度隔山川。 2023 by The McGrawHill Companies, Inc. All rights reserved. 1921 Venture Capital ? The limited partnership is the dominant form of intermediation in this market. ? There are four types of suppliers of venture capital: 1. Oldline wealthy families. 2. Private partnerships and corporations. 3. Large industrial or financial corporations have established venturecapital subsidiaries. 4. Individuals, typically with ines in excess of $100,000 and newt wor
范文總結(jié)相關(guān)推薦
鄂ICP備17016276號-1