Kutheni iikhompyutha zihamba ngokubanzi kunye ne-IPO
I-IPO zisetyenziselwa iinkampani ezitsha ezifuna imali eyongeziweyo yokwandisa okanye iinkampani ezizimeleyo zabanikazi babo kunye nabanini- zimali abanqwenela ukwenza imali ngotyalo-mali lwabo lwangaphambili (jonga iqhinga lokuphuma ).
Ukuba iimimiselo zeemarike zilungele ibhizinisi elithile ngexesha le-IPO, abatyali-zimali bokuqala kwiinkampani ezizimeleyo banokufumana inzuzo kuba isitokisitsha esitsha sinokubaluleka okungakumbi kunotyalo-mali lwabo bokuqala.
I-IPO Yenziwe njani
Ngokuqhelekileyo inkampani yabucala enqwenela ukuhamba esidlangalaleni nge-IPO eWall Street yenza njalo ngokubhankwa kwebhanki (njengeGoldman Sachs okanye uMorgan Stanley) ibhala phantsi kweso sabelo. Ngeengxoxo, inkampani kunye nebhanki yotyalo-mali sinquma malunga namanqanaba amanani anokukhutshwa, uhlobo lwezabelo, kunye nexabiso lesabelo sabelana. Ngokuxhomekeke kwisivumelwano, umgcini-phantsi ungagqiba imali ephakanyiswe ngokuthenga ezinye okanye zonke izabelo aze azithengise ngokubanzi kuluntu.
Ibhanki yotyalo-mali ilungiselela i-IPO ngokuthumela ulwazi lokubhalisa kwi-Securities and Exchange Exchange (i-SEC), kuquka iinkcukacha zomnikelo wesabelo, iingxelo zemali, ulwazi lolawulo, njl njl.
I-SEC yenza iimvavanyo zangasemva kubhaliso ukuqinisekisa ukuba zonke iinkcukacha ezichanekileyo zidibeneyo ekungenisweni.
Emva kwe-SEC ukuvunywa kwenkampani kunye nomgcini-mibhalo ukuqala ukuthengisa umcimbi kubathengi ngokukhupha uluhlu lwezinto ezinokuthi zichaze inkampani kunye nomnikelo wesabelo (bona ipasipoti yeZipcar njengomzekelo).
Ekuqaleni, izabelo zixhaswa ngabanini-zimali abakwiziko elinjengeemali zempesheni, abaxhasi bemizi, iimali eziphathekayo, njl. Nabanako ukukwazi ukuthenga iibhloko ezinkulu zezabelo (ngokuqhelekileyo ngentengo ehlaziyiweyo). Ekugqibeleni, izabelo zifakwe kwi-stock exchange exchange kwaye zingathengwa ngabanye abatyalo-mali.
Umzekelo we-IPO
Kwihlabathi lezobugcisa, i-IPO enkulu (kwaye inkulu kunayo yonke imbali kwi-intanethi ye-intanethi) yiyo ye-Facebook ngomhla kaMeyi 18, 2012. Umsunguli kunye nomnini-nxaxheba oyintloko uMark Zuckerberg wayenqabile ukuthabatha inkampani kawonkewonke iminyaka kwaye esikhundleni sakhe wakhupha i-capital ngokuthengisa kwamashishini abucala. kwezinye iinkampani ezifana neMicrosoft. Ngeli xesha le-IPO Facebook lalinabanikazi abanamalungelo angasese abangaphezu kwama-500 kunye nabangaphezu kwezigidi ezili-800 ezigidi zabasebenzisi.
Kwiinyanga ezimbalwa ngaphambi kwe-IPO, i-Facebook yayihlose ukuxabisa i-IPO izabelo kwi-$ 28 ukuya kwi-35 engama-sabelo ngasinye. Nangona kunjalo, ngenxa yokufunwa kweemfuno eziphezulu, inani lezabelo ezithengiswayo linyuswe ngama-25% kwaye ixabiso le-IPO isahlulo ngasinye liphakanyiselwe kwi-38, ukunika i-Facebook intengo yexabiso lemarike engaphezulu kwama-dollar ayi-104.
Ngelishwa, intengo yesitoko yawela ngosuku lokuvula kwaye yaqhubeka iwele kwiinyanga ezimbini ezizayo, ihla ngaphantsi kweedola ezingama-20 ngesabelo ngasinye ngo-Agasti 2012.
Izabelo azizange zibuye zithengise ngaphezu kwexabiso le-IPo ngaphezu konyaka emva kwe-IPO.
I-IPO ayisoloko iphumelele
Ngelixa i-IPO ingaba yinzuzo kwizezimali kumnini-shishini, impumelelo ayiqinisekanga kwaye kukho iingxaki ezininzi. Okokuqala, awukwazi ukufumana imali yakho ngokukhawuleza njengoko ungathanda. Abatyalo-mali banganxininisa ukuba yonke imali ephakanyiswe yi-IPO iya kubuyiselwa kwishishini. Kwaye inxalenye yezabelo zakho ingabanjelwa ekuhambeni iminyaka.
Okwesibini, isikhundla sakho sobunini sinokuthi sitshitshise kwaye ungalahlekelwa yinkampani. Ukuze ugweme oku, abanini abanqwenela ukugcina ukulawula inkampani emva kwe-IPO banokwenza oko ngokukhupha iiklasi ezahlukileyo zezabelo ezithatha iziphindaphindi ezahlukeneyo zokulinganiswa kokuvota.
Ngomzekelo we-Facebook apha ngasentla uMark Zuckerberg unamaphesenti angama-18 kuphela kwenkampani emva kwe-IPO.
Nangona kunjalo, i-IPO yoluntu ekhutshiwe (i-Class A) izabelo zine-1/10 yesilinganiselo sokuvota sokwabelana kwangasese (kwiBakala B). Ubuninzi bezabelo zeBakala B zaba ngama-57 ekhulwini zezabelo zokuvota kwaye zamshiya ekulawuleni inkampani emva kwe-IPO.
Ukususela kumbono we-investor IPOs unokuba utsalo-mali obungozi. Ngaphandle kolwazi lwembali, kunokuba nzima ukuvavanya ixabiso lentengo yenkampani, kwaye ii-IPO ziyakuthi zikhutshwe xa iimeko zemarike zithandeka. I-IPO ezifana ne-Webvan kunye ne-pets.com eyasungulwa ngexesha lebhola le-dot-com liphenduleleke ekubekeni kwezinto ezibonakalayo xa ibhola liqhuma kwaye zombini iinkampani zagqitywa.