International Equity Markets: The Art of The Deal

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International Equity Markets: The Art of The Deal

By: Robert Lilija

Our price: 135 + postage

Product code: 9348
ISBN: 1855643685
493 pages
Format: Pb
Published by: Euromoney Books, 1997, 1st edition

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International Equity Markets: The Art of The Deal - front page cover image

Description of International Equity Markets: The Art of The Deal

At last, here is a book which will tell you everything you need to know about doing deals in the international equity markets. The first essential guide to the equity new issue market, International Equity Markets - The Art of the Deal is based on detailed research and interviews with more than 300 key players worldwide, designed to help readers understand the art of the deal.

International Equity Markets - The Art of the Deal is intended to provide a multitude of useful lessons as to how to structure and execute a successful international equity transaction, as well as pointing out what was wrong with those deals that failed to meet their objective. Filled with incisive text and commentary, it combines detailed examples, case study material and 25 special feature topics with an effective and well structured 'how-to' guide, making it the ideal companion for anyone needing information on this rapidly growing area of the investment banking business.

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International Equity Markets: The Art of The Deal - Chapter headings

1. Introduction
Defining a successful equity offering

2. Market Development
This data intensive chapter reviews the tremendous growth and diversity in the market for cross-border equity issuance in the 1990s.

3. The Case Studies
Akzo
Argentaria
BNP
Bulgari
China Steel
Daimler-Benz
Elf Aquitaine
Endesa
ENI
KPN
Mayr-Melnhof
Nokia
Pharmacia
Railtrack
Repsol
Roche
Shandong Huaneng PDC
Singapore Telecommunications
Tele Denmark
Telecom Corp of New Zealand
USX - Marathon Group
Wellcome
YPF
Zeneca

Feature topics:

- A managed rights offer vs a bookbuilt issue
- How to do a bought deal
- Getting a global deal done
- Deal economics
- The formation of a core shareholder group
- Institutional investor views on privatisation
- The role of the 'due diligence' process for a medium-sized company IPO
- The significance of a discount in a rights issue
- Targeting the US investor base
- The role of an independent advisor
- Lessons from Mayr-Meinhof's profit warning
- Hitting the Big Board - lessons from Nokia's listing on NYSE
- The tortuous prelude to the Pharmacia privatisation
- Maximising retail demand in connection with a privatisation
- The role of the marketing adviser
- Key facts of the Tory privatisation programme
- Recapturing the European retail investor - innovations in retail offering technology
- The US listing decision for non-US companies: IAS versus GAAP
- The re-emergence of the Chinese securities market
- The role of the equity research analyst in a global equity offer
- Tele Danmark's investor relations
- Pursuing a dual-track strategy
- Introduction to targeted stock
- Short-selling in connection with global equity offers

4. The Top Banks
Looking at the top banks involved in the international equity issuance and their performance in the global equity new issue market. This chapter includes interviews with the European heads of equity capital markets of the top five banks.

5. The Investor Perspective
Offers the institutional investor perspective, the role of the new issue market in institutional investment, what companies should know about institutional investors, what fund managers think of company management, what investors think of investment banks, and lessons for company executives.

6. Getting the Offering Perspective Right
A 'how-to' guide drawing extensively on the experience of hundreds of people involved in the 24 financings analysed in these case studies.

7. Conclusion

Glossary: nearly 200 terms explained in clear, easy-to-follow language. This is a superb training guide and reference tool.

Appendices: non-US stocks listed on the NYSE: listed by industry, country of origin and listing date.

List of interviewees: a list of more than 400 people interviewed and consulted by the author during the course of writing this book. Find out who the key players are.