An examination of initial public offerings (IPO) in Hong Kong to see and evaluate whether IPO's have been under priced in recent years.
Written in 2008; 16,295 words; 60 sources; APA; $ 249.95
Paper Summary:
This paper discusses how a company set the initial public offering (IPO)price that was offered to both the public and the institutional clients via public offering and international placement process. The paper looks at the factors that affected the company's decision and the reason for having an IPO and its process, such as approval from regulatory bodies, are clearly examined so that there is a better understanding of the situation. The paper also explains about the parties involved in an IPO such as the company itself, the auditor, investment bankers, and underwriting managers. The paper describes their involvement and how they influenced the pricing. The paper then looks at the factors that drove them to make such a decision.
Table of Contents:
1. Abstract
2. Acknowledgement
3. Chapter 1 Introduction
1.1 Background
1.2 Objective
4. Chapter 2 Market Analysis
2.1 Background of the Securities Market in Hong Kong
2.2 Initial Public Offerings (IPO) in Hong Kong
2.2.1 Reasons of having IPO
2.2.2 Why Companies choose to list in Hong Kong?
2.2.3 What are the eligibility requirement
2.2.4 Parties involved and their respective roles
2.2.5 IPO process
5. Chapter 3 Literature Review
3.1 Introduction
3.2
3.3 Summary and conclusion
6. Chapter 4 Analysis on the underpricing of Hong Kong IPOs
7. Chapter 5 Summary and Conclusion
8. References
9. Appendix
From the Paper:
"As at the end of 2005, total market capitalization of the Main Board was HK$8,113.3 billion, which is a 22.4% increased when compared with 2004. The average daily turnover of the Main Board in 2005 was Hk$18.2 billion, up 15% from that in 2004. Therefore, the importance of the SEHK cannot be underestimated. Carrying out research in the Hong Kong IPO market increases understanding of the market and also the phenomenon in the market place."
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