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A Comparison Of Spin-Outs Versus Carve-Out IPOs: Part II

Comparison Between Spin-Off and IPO There are reasons why a company may choose a spin-off versus an IPO. Depending on what shareholders prefer, this can either can be a good or bad option. An IPO results in cash proceeds for the parent. So if Alibaba carves out and IPOs Ant Financial, the

Subscription Receipts in Acquisition Finance

Why Issue Subscription Receipts Subscription receipts are often used as a form of acquisition financing in regards to equity. A public company may need to issue equity when debt is either not available or is not prudent. For instance, if the indicative cost of debt becomes too high as the market feels

Investment Bankers Love Equity

"I Don't Want to Do Equities" I am a big fan of "giving back" to aspiring financiers, in large part due to my altruistic nature. However, another reason is to encounter dunces and laugh at them. When I get a few in a row of the latter, I grow weary of

Global ECM Weekly Monitor Dec 01, 2017 – Saigon Beer Alcohol Beverage, Enterprise Products Partners

Our previous Global ECM Weekly Monitors can be found here. Saigon Beer Alcohol Beverage Corporation (HOSE:SAB) Announcement Date: November 29, 2017 Gross Offering Amount: VND 109,972 billion (USD $4.8 billion) Price per share: VND 320,000 Lead Banks: Not Disclosed Nature of the issue: State bailout Security Issued: Common Shares Saigon Beer Alcohol Beverage Corporation is

Global ECM Weekly Monitor Nov 24, 2017 – Riverstone CKD II Management Company, Abu Dhabi National Oil Company

Our previous Global ECM Weekly Monitors can be found here. Riverstone CKD II Management Company, S. de R.L. Announcement Date: November 22, 2017 Gross Offering Amount: MXN $9 billion Price per share: MXN $100 Lead Bank: Credit Suisse Nature of the issue: Follow-on Equity Offering; Development of Trust Security Issued: Development Trust Certificates

Global ECM Weekly Monitor Nov 17, 2017 – Alnylam Pharmaceuticals, Norwegian Cruise Line Holdings, Gardner Denver Holdings

Our previous Global ECM Weekly Monitors can be found here. Alnylam Pharmaceuticals, Inc. (NasdaqGS:ALNY) Announcement Date: November 13, 2017 Gross Offering Amount: USD $700 million Price per share: $125 Lead Banks: Goldman Sachs, JP Morgan, Barclays, Barclays Nature of the issue: Follow-on Equity Offering; General Corporate Purposes Security Issued: Common Stock Overallotment: $105

Global ECM Weekly Monitor Nov 10, 2017 – Equinix, China Overseas Grand Oceans Group

Our previous Global ECM Weekly Monitors can be found here. Equinix, Inc. (NasdaqGS:EQIX) Announcement Date: November 7, 2017 Gross Offering Amount: USD $750 million Price per share: Prevailing Market Price Lead Banks: Citi, JP Morgan, BofA Merrill Lynch, RBC Nature of the issue: Follow-on Equity Offering; Funds will be used for working capital

Global ECM Weekly Monitor Nov 3, 2017 – Yixin Group, Razer Inc

Yixin Group Limited Announcement Date: November 2, 2017 Expected Offer Date: November 16, 2017 Gross Offering Amount: 878,680,000 shares valued at HKD 6.8 billion Price per share: HKD 6.60-7.70 Lead Banks: China Merchants Securities, Citi, CLSA, Credit Suisse, Futu5.com, Sun Securities, The Hongkong and Shanghai Banking Corporation, UBS, Zhongtai International

Block Trades/Block Sales

What Is A Block Trade? For a company that is already publicly listed, there are times when an investment bank or a syndicate of investment banks will purchase a significant amount of shares from a major shareholder or group of shareholders in a private, negotiated transaction in what is known as

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