Intial Public Offerings Essay

1036 words - 4 pages

Industry Averages and Financial Ratios

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Initial Public Offerings

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Initial Public OfferingsFIN/370August 18, 2014 The Role of the investment banker and underwriterInvestment banking in the Global market, what are their roles? I always liked this saying, "investment chases opportunity." The role of the investment banker is often to source ideas about acquisitions and divestiture opportunities. Investment bankers are aware of strategic, financial and other types of benefits that gives a rise mutually to benefit a company in these types of transactions. If a company wants to sell or to look for cash to reduce debt, they look for opportunities that will aid them in this process. They are also always looking to develop strategies that lead to attracting new clients or will be attractive to clients they already have.The underwriter in the global market help firms lessens their risk in exchange for a premium. Underwriters purchase the securities from whoever is selling on the market and tries to purchase them at market price and then turn around and sell them for profit. The term underwriter is said to come from the practice of having the risk taker write their under the amount they are willing to take a risk for.Role of originating house and a syndicateOnce the decision is made to sale shares (underwrite) a firm is identified as the originating house which includes the lead underwriting official. This action is performed since the sell is very large and can be very risky. The lead underwriter then has the option to form a syndicate which involves a temporary group of financial planners that form together in order to mitigate the risks involved in performing such a large transaction. The syndication allows companies to fund into the sell and still have a financial backing during all transactions.There are several types of syndicates, all of them being temporary in service to the firms they assist. Most common syndicates are used during underwriting, banking, and insurance purchasing. Underwriting syndicates would apply to underwrite naturally and ensure less stress to the firm during a sale. It is a group of bankers/dealers who come together to create offerings involving new methods of sales that can include equities and other debt securities within the firm.A banking syndicate serves the same purpose as the underwriting syndicate but allows investment banks to come together and join in on the sale and distribution of the new securities offered. They can also form in order to lend money to a borrower.Pricing Strategies and Pricing CapabilitiesCompanies struggle a lot with developing value-based pricing strategies. Pricing strategies consists of pricing based on cost competition or customer values. Cost-based pricing decides on the value based on product and services that are observed by competitor's pricing. Value based pricing uses the value that a product or service that a company presents to a business customers. Pricing capabilities takes...

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