講座謝岷ppt課件-wenkub.com
2025-05-02 18:57 本頁(yè)面
【正文】 IPO Investment thesis / Value added ? Increase production capacity to facilitate market reach and to meet overwhelming product demand ? Securing scarce raw material resources ? Building international brand and work ? Build up access to international capital market ? Introducing international standard of corporate governance Exit strategy ? Initial Public Offering ? Trade sale to international/domestic strategic investors ? Redeem CB PreIPO Opportunity Strategic minority investment in a leading solar energy equipment producer in China that seeks growth capital and IPO in 2022 Target IRR 30%+ 謝岷 PE系列講座之一 : PE事業(yè)概述 29 A mezzanine investment in Beijing property Business opportunity ? A Beijing property developer owns a 4floor shopping mall of 36,173m2 and an office building space of 35,221m2 at the same prime location, which generate good rental ine. The pany also is developing a 100 villa project near the Beijing airport, which has been 60% pleted and launched sale in the market. ? The Company has some financial difficulties due to the expansion of new villa project and the loan recall by Bank of China about 10,000 m2 of office space are secured by the bank ? The Company needs US$20m+ to replace the bank loan (US$15m) and to bridge financing of the new villa project. The Company is willing to accept high interest rate plus a certain profit sharing on its villa project development. Origination ? Direct contact with CEO, the owner of the Company Investment date Deal available now Valuation Discount to market Entry multiple 1012% yield, 23 years Equity investment US$20m needed 2022 Rental ine US$ () Exit Loan repayment + profit sharing Investment thesis / Value added ? Private equity investment in bination of highend residential property development and mature Grade A mercial property with stable rental ine. Very little risk with well balanced deal structure ? Help the Company to meet the urgent funding need and receive a high yield return and profit sharing on the new villa development, so that our total investment return can be enhanced ? Target return: IRR 18% , with 1012% annual yield for 23 years plus equity profit sharing Exit strategy ? Scheduled repayment。 advisers ? Inhouse legal amp。 negotiation Securities registration and clearing institution (Change of ownership title)* SAIC SOEs Approval from Industry Regulatory and Administrative Authority Private Companies Seller (Private Company) Foreign Investors Local subsidiaries of MOFCOM SAFE MOFCOM SAIC, or local subsidiaries of SAIC Depends on industry and size of transaction Due diligence, evaluation amp。 ? 人事調(diào)查：聘請(qǐng)人力資源公司核時(shí)管理團(tuán)隊(duì)的資質(zhì)及紀(jì)錄等等。 ? 談判投資條件：根據(jù)規(guī)範(fàn)的風(fēng)險(xiǎn)及預(yù)期的報(bào)酬，與公司就相關(guān)投資條件、限制條款及監(jiān)督機(jī)制等等進(jìn)行協(xié)商。 謝岷 PE系列講座之一 : PE事業(yè)概述 9 投資基金操作程序 謝岷 PE系列講座之一 : PE事業(yè)概述 10 投資程序 基金將採(cǎi)行以下操作程序，以確保良好的盡責(zé)調(diào)查品質(zhì)： ? 行業(yè)調(diào)研，以充份瞭解市場(chǎng)規(guī)模及未來(lái)成長(zhǎng)速度、相關(guān)法令規(guī)定、主要投資者及競(jìng)爭(zhēng)環(huán)境、成功要素等等。 7） 可預(yù)見(jiàn)的退場(chǎng)機(jī)制 投資的資金應(yīng)用于項(xiàng)目公司的資本支出 、 擴(kuò)大經(jīng)營(yíng)所需要的現(xiàn)金流量以及資本結(jié)構(gòu)的調(diào)整等等 。 2） 成長(zhǎng)中的公司 基金只投資具備成長(zhǎng)資本需求及尋求上市前戰(zhàn)略投資合作的項(xiàng)目公司 ， 不投資于創(chuàng)建期風(fēng)險(xiǎn)投資的項(xiàng)目 3） 占有一定的市場(chǎng)份額且市場(chǎng)具有成長(zhǎng)的空間 企業(yè)應(yīng)擁有領(lǐng)先市場(chǎng)占有率和較高的成長(zhǎng)速度 ， 基本上應(yīng)在其行業(yè)中排名前五名 。謝岷 PE系列講座之一 : PE事業(yè)概述 1 中國(guó)私募股權(quán)投資：運(yùn)營(yíng)與規(guī)管實(shí)務(wù) Private Equity Business in the PRC: Regulatory and Operational Practices
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