In what key ways do share issue privatizations (SIPs) differ from private- sector share offerings? Why do you think governments deliberately under-price SIPs?
Answer to relevant QuestionsWhat patterns are observed in U. S. security issues each year? How do these patterns compare to those in international security issues? What are the principal benefits of going public? What are the key drawbacks? Suppose that you purchase shares of a company that recently executed an IPO at the post-offering market price of $32 per share, and you hold the shares for one year. You then sell your shares for $35 per share. The company ...What is the difference between levered and unlevered equity? What effect does substituting debt for equity have on the required return on (levered) equity? What factors, other than the current interest rate at which new debt could be sold, should a manager consider when deciding to refund a bond issue?
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