Initial public offerings: an inside view
Saved in:
| Main Authors: | , , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Konstanz ; München
UVK Verlagsgesellschaft mbH mit UVK/Lucius
[2018]
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | 215 Seiten Illustrationen, Diagramme |
| ISBN: | 9783867647397 3867647399 |
Staff View
MARC
| LEADER | 00000nam a22000008c 4500 | ||
|---|---|---|---|
| 001 | BV044604240 | ||
| 003 | DE-604 | ||
| 005 | 20181122 | ||
| 007 | t | ||
| 008 | 171108s2018 gw a||| |||| 00||| eng d | ||
| 015 | |a 17,N42 |2 dnb | ||
| 016 | 7 | |a 1140934082 |2 DE-101 | |
| 020 | |a 9783867647397 |c : EUR 34.99 (DE) |9 978-3-86764-739-7 | ||
| 020 | |a 3867647399 |9 3-86764-739-9 | ||
| 024 | 3 | |a 9783867647397 | |
| 035 | |a (OCoLC)1015210706 | ||
| 035 | |a (DE-599)DNB1140934082 | ||
| 040 | |a DE-604 |b ger |e rda | ||
| 041 | 1 | |a eng | |
| 044 | |a gw |c XA-DE-BW | ||
| 049 | |a DE-M382 |a DE-19 |a DE-355 |a DE-12 |a DE-473 |a DE-739 | ||
| 084 | |a QP 442 |0 (DE-625)141887: |2 rvk | ||
| 100 | 1 | |a Daxhammer, Rolf |d 1963- |e Verfasser |0 (DE-588)114460329 |4 aut | |
| 245 | 1 | 0 | |a Initial public offerings |b an inside view |c Rolf J. Daxhammer, Andreas Resch, Oliver Schacht |
| 264 | 1 | |a Konstanz ; München |b UVK Verlagsgesellschaft mbH mit UVK/Lucius |c [2018] | |
| 300 | |a 215 Seiten |b Illustrationen, Diagramme | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 650 | 0 | 7 | |a Going Public |0 (DE-588)4219438-6 |2 gnd |9 rswk-swf |
| 653 | |a AFM | ||
| 653 | |a asSet-based approach | ||
| 653 | |a Capital | ||
| 653 | |a Cash Flow | ||
| 653 | |a Compliance | ||
| 653 | |a Corporate Governance | ||
| 653 | |a debt | ||
| 653 | |a Equity | ||
| 653 | |a Investment Banking | ||
| 653 | |a IPO | ||
| 653 | |a post-IPO | ||
| 653 | |a valuation | ||
| 689 | 0 | 0 | |a Going Public |0 (DE-588)4219438-6 |D s |
| 689 | 0 | |5 DE-604 | |
| 700 | 1 | |a Resch, Andreas |e Verfasser |0 (DE-588)1152037897 |4 aut | |
| 700 | 1 | |a Schacht, Oliver |e Verfasser |4 aut | |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe, EPUB |z 978-3-7398-0172-8 |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe, PDF |z 978-3-7398-0173-5 |
| 856 | 4 | 2 | |m DNB Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030002604&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-030002604 | ||
Record in the Search Index
| _version_ | 1804178011397816320 |
|---|---|
| adam_text | CONTENTS
PREFACE.....................................................................................................................................
5
ABOUT THE
AUTHORS..................................................................................................................7
LIST O F TABLES AND
FIGURES...................................................................................................
13
ABBREVIATIONS........................................................................................................................15
PART 1: INITIAL PUBLIC OFFERING (IPO) - A THEORETICAL PERSPECTIVE
............................
1 9
1 CORPORATE FINANCE - AN
OVERVIEW.................................................................
20
1.1 EQUITY VERSUS
DEBT...................................................................................................
20
1.1.1 WHY CAPITAL IS
NEEDED.............................................................................................
20
1.1.2 TYPES OF
CAPITAL.......................................................................................................
20
1.1.3 CHARACTERISTICS OF DEBT AND EQUITY
CAPITAL.............................................................21
1.2 WHERE THE MONEY COMES FROM
...............................................................................22
1.2.1 INTERNAL AND EXTERNAL FINANCING AND SOURCES OF CAPITAL
........................................
22
1.2.2 ECONOMIC FUNCTIONS OF FINANCIAL MARKETS
.............................................................
24
1.2.3 TRANSFORMATION
TASK................................................................................................
25
1.3 COMMERCIAL BANKING VERSUS INVESTMENT
BANKING................................................26
1.3.1 INSTITUTIONAL SET-UP OF COMMERCIAL BANKING VS. INVESTMENT BANKING
..............
26
1.3.2 SERVICES OFFERED IN INVESTMENT BANKING
...............................................................
27
1.3.3 IPO AS PART OF INVESTMENT BANKING
SERVICES.........................................................28
1.3.4 INVESTMENT BANKING IN THE US AND
EUROPE..........................................................28
1.4 THE GLOBAL IPO MARKET AND ITS DRIVERS
..................................................................
29
1.4.1 OVERVIEW OF INTERNATIONAL IPO
ACTIVITY................................................... 29
1.4.2 A
SIA..........................................................................................................................
30
1.4.3
US.............................................................................................................................
30
1.4.4
EUROPE.....................................................................................................................
31
1.4.5 FUTURE PROSPECTS....................... 31
2 WHAT INVESTMENT BANKS DO IN AN IP O
........................................................33
2.1
ADVICE......................................................................................................................
33
2.2
UNDERWRITING...........................................................................................................38
2.3 DISTRIBUTION
.................................
41
2.4 POST-IPO
..............
.
...............................................................................:.................44
3 VALUE - AN ELUSIVE CONCEPT
......................................................
47
3.1 BASIC VALUATION
CONCEPTS.........................................................................................
47
3.1.1 ASSET-BASED A
PPROACH............................................................................................
48
3.1.2 COMBINED VALUATION METHODS
................................................................................
49
3.1.3 HOLISTIC VALUATION
APPROACHES..................................................................................
50
3.2 DISCOUNTED CASH FLOW
VALUATION..............................................................................
51
3.2.1 ESTIMATING DISCOUNT
RATES.......................................................................................
51
3.2.2 MEASURING CASH
FLOWS..............................................................................................
60
3.2.3 FORECASTING CASH
FLOWS............................................................................................
64
3.2.4 ESTIMATION OF TERMINAL VALUE
..................................................................................
65
3.3 RELATIVE
VALUATION......................................................................................................
66
3.3.1 PEER
GROUP................................................................................................................
67
3.3.2 TYPES O F
MULTIPLES...................................................................................................67
3.3.3 PRINCIPLES OF RELATIVE VALUATION
...............................................................................
69
PART 2: IPO - WHAT DOES IT REALLY MEAN FOR A COMPANY?
......................................
71
4 MONEY, MONEY,
MONEY...................................................................................72
4.1 ACCESS TO PUBLIC EQUITY CAPITAL
MARKETS.................................................................72
4.2 CAPITAL
STRUCTURING...................................................................................................76
4.3 OFFER STRUCTURE: WHO SELLS HOW MUCH STOCK AT WHAT PRICE TO WHOM?
................
78
4.4 USE OF PROCEEDS (IF ANY.. .)
.....................................................................................
85
4.5 THE REAL COST OF CAPITAL IN AN IPO - FEES & MORE
................................................
88
5 A BIG, IMPORTANT
PROJECT.................................................................................92
5.1 TOO MANY
COOKS?.....................................................................................................92
5.2 BEST LAID
PLANS.........................................................................................................100
5.3 TIMING IS
EVERYTHING..............................................................................................
105
5.4 ONCE IN A LIFETIME EXPERIENCE (EXCEPT FOR SOM E...)
...........................................
I L L
6 PUBLIC MARKET READINESS ESSENTIALS
.............................................................
114
6.1 CORPORATE GOVERNANCE AND COMPLIANCE
................................................................
114
6.2 MANAGEMENT INFORMATION & REPORTING SYSTEMS
.................................................
118
6.3 PLANNING AND ABILITY TO DELIVER ON PROMISES
........................................................
122
6.4 THE EQUITY STORY - GIVING A SHARE A LIFE OF ITS OWN
............................................
125
7 PUBLIC COMPANY STATUS IMPLICATIONS - FOREVER!?
.......................................
130
7.1 MEDIA ATTENTION.. .THERE IS NO OFF THE
RECORD......................................................130
7.2 DISCLOSURE
OBLIGATIONS...........................................................................................132
7.3 INVESTOR CHEER & SCRUTINY &
HEADACHES..............................................................135
7.4 EXIT ROUTE *TAKE PRIVATE*
......................................................................................139
PART 3: THE CURETIS IPO - A EUROPEAN SU CCESS
STORY.............................................1 4 3
8 FROM *NEVER AGAIN* TO *YES WE CAN*
.......................................................
144
8.1 THE EPIGENOMICS IPO AND ITS
AFTERMATH.............................................................144
8.2 CONSIDERATIONS FOR CURETIS WHEN
JOINING............................................................147
8.3 GROWING CURETIS AND STRATEGIC
OPTIONS................................................................150
8.4 CHANGE O F HEART, CHANGE OF MIND
........................................................................
151
9 PRE-KICK-OFF
PREPARATIONS.............................................................................
154
9.1 IFRS CONVERSION AND AUDITS
..................................................................................
155
9.2 NON-DEAL ROADSHOW, PILOT FISHING AND TEST THE W ATERS
......................................
156
9.3 SYNDICATE SELECTION
SYMPHONY.............................................................................
158
9.4 ADVISORS AND M
ORE...............................................................................................
160
10 PROJECT *CACTUS* - MEMORABLE
MILESTONES............................................... 166
10.1 KICK-OFF MEETING
...................................
166
10.2 PROSPECTUS DRAFTING AND THE
AFM.........................................................................167
10.3 DUE DILIGENCE
DELIRIUM...........................................................................................169
10.4 ANALYSTS BRIEFING AND PRE-IPO RESEARCH 2015 VS.
2004.......................................171
10.5 PRICE, PLACE AND
PACKAGING.....................................................................................
172
11 BLOG FROM THE IPO ROAD
SHOW.....................................................................174
11.1 START IT OFF IN THE BENELUX AND
FRANCE...............................................................174
11.2 FROM LONDON VIA FRANKFURT TO THE
USA............................................................186
11.3 THE FINISH LINE IN SIGHT IN LONDON AND SWITZERLAND
..........................................
190
11.4 ROLLER COASTER AND THE LAST 24 HOURS - BUILD YOUR OWN
BOOK............................190
11.5 DEAL IS DONE, LET*S DEAL WITH I T
..............................................................................
192
12 IPO AFTERMATH AND *BEING PUBLIC* LESSONS
LEARNED...................................195
12.1 FIRST DAY(S) OF
TRADING............................................................................................
195
12.2 THE QUIET
PERIOD.....................................................................................................197
12.3 CORPORATE GOVERNANCE AND COMPLIANCE
MANIA.....................................................198
12.4 STARTING THE IR SONG AND DANCE
............................................................................
201
12.5 OUTLOOK (2016 AND BEYOND), LOCK-UP EXPIRY AND
GROWTH..................................204
BIBLIOGRAPHY...............................................................................................................209
|
| any_adam_object | 1 |
| author | Daxhammer, Rolf 1963- Resch, Andreas Schacht, Oliver |
| author_GND | (DE-588)114460329 (DE-588)1152037897 |
| author_facet | Daxhammer, Rolf 1963- Resch, Andreas Schacht, Oliver |
| author_role | aut aut aut |
| author_sort | Daxhammer, Rolf 1963- |
| author_variant | r d rd a r ar o s os |
| building | Verbundindex |
| bvnumber | BV044604240 |
| classification_rvk | QP 442 |
| ctrlnum | (OCoLC)1015210706 (DE-599)DNB1140934082 |
| discipline | Wirtschaftswissenschaften |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02064nam a22005658c 4500</leader><controlfield tag="001">BV044604240</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20181122 </controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">171108s2018 gw a||| |||| 00||| eng d</controlfield><datafield tag="015" ind1=" " ind2=" "><subfield code="a">17,N42</subfield><subfield code="2">dnb</subfield></datafield><datafield tag="016" ind1="7" ind2=" "><subfield code="a">1140934082</subfield><subfield code="2">DE-101</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9783867647397</subfield><subfield code="c">: EUR 34.99 (DE)</subfield><subfield code="9">978-3-86764-739-7</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">3867647399</subfield><subfield code="9">3-86764-739-9</subfield></datafield><datafield tag="024" ind1="3" ind2=" "><subfield code="a">9783867647397</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1015210706</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)DNB1140934082</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1="1" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">gw</subfield><subfield code="c">XA-DE-BW</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-M382</subfield><subfield code="a">DE-19</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-12</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-739</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QP 442</subfield><subfield code="0">(DE-625)141887:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Daxhammer, Rolf</subfield><subfield code="d">1963-</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)114460329</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Initial public offerings</subfield><subfield code="b">an inside view</subfield><subfield code="c">Rolf J. Daxhammer, Andreas Resch, Oliver Schacht</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Konstanz ; München</subfield><subfield code="b">UVK Verlagsgesellschaft mbH mit UVK/Lucius</subfield><subfield code="c">[2018]</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">215 Seiten</subfield><subfield code="b">Illustrationen, Diagramme</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Going Public</subfield><subfield code="0">(DE-588)4219438-6</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">AFM</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">asSet-based approach</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">Capital</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">Cash Flow</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">Compliance</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">Corporate Governance</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">debt</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">Equity</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">Investment Banking</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">IPO</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">post-IPO</subfield></datafield><datafield tag="653" ind1=" " ind2=" "><subfield code="a">valuation</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">Going Public</subfield><subfield code="0">(DE-588)4219438-6</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="5">DE-604</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Resch, Andreas</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)1152037897</subfield><subfield code="4">aut</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Schacht, Oliver</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Online-Ausgabe, EPUB</subfield><subfield code="z">978-3-7398-0172-8</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Online-Ausgabe, PDF</subfield><subfield code="z">978-3-7398-0173-5</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">DNB Datenaustausch</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030002604&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-030002604</subfield></datafield></record></collection> |
| id | DE-604.BV044604240 |
| illustrated | Illustrated |
| indexdate | 2024-07-10T07:57:11Z |
| institution | BVB |
| isbn | 9783867647397 3867647399 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-030002604 |
| oclc_num | 1015210706 |
| open_access_boolean | |
| owner | DE-M382 DE-19 DE-BY-UBM DE-355 DE-BY-UBR DE-12 DE-473 DE-BY-UBG DE-739 |
| owner_facet | DE-M382 DE-19 DE-BY-UBM DE-355 DE-BY-UBR DE-12 DE-473 DE-BY-UBG DE-739 |
| physical | 215 Seiten Illustrationen, Diagramme |
| publishDate | 2018 |
| publishDateSearch | 2018 |
| publishDateSort | 2018 |
| publisher | UVK Verlagsgesellschaft mbH mit UVK/Lucius |
| record_format | marc |
| spelling | Daxhammer, Rolf 1963- Verfasser (DE-588)114460329 aut Initial public offerings an inside view Rolf J. Daxhammer, Andreas Resch, Oliver Schacht Konstanz ; München UVK Verlagsgesellschaft mbH mit UVK/Lucius [2018] 215 Seiten Illustrationen, Diagramme txt rdacontent n rdamedia nc rdacarrier Going Public (DE-588)4219438-6 gnd rswk-swf AFM asSet-based approach Capital Cash Flow Compliance Corporate Governance debt Equity Investment Banking IPO post-IPO valuation Going Public (DE-588)4219438-6 s DE-604 Resch, Andreas Verfasser (DE-588)1152037897 aut Schacht, Oliver Verfasser aut Erscheint auch als Online-Ausgabe, EPUB 978-3-7398-0172-8 Erscheint auch als Online-Ausgabe, PDF 978-3-7398-0173-5 DNB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030002604&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Daxhammer, Rolf 1963- Resch, Andreas Schacht, Oliver Initial public offerings an inside view Going Public (DE-588)4219438-6 gnd |
| subject_GND | (DE-588)4219438-6 |
| title | Initial public offerings an inside view |
| title_auth | Initial public offerings an inside view |
| title_exact_search | Initial public offerings an inside view |
| title_full | Initial public offerings an inside view Rolf J. Daxhammer, Andreas Resch, Oliver Schacht |
| title_fullStr | Initial public offerings an inside view Rolf J. Daxhammer, Andreas Resch, Oliver Schacht |
| title_full_unstemmed | Initial public offerings an inside view Rolf J. Daxhammer, Andreas Resch, Oliver Schacht |
| title_short | Initial public offerings |
| title_sort | initial public offerings an inside view |
| title_sub | an inside view |
| topic | Going Public (DE-588)4219438-6 gnd |
| topic_facet | Going Public |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030002604&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT daxhammerrolf initialpublicofferingsaninsideview AT reschandreas initialpublicofferingsaninsideview AT schachtoliver initialpublicofferingsaninsideview |