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Private equity, venture capital, stock exchange listing: all are methods of raising...
Private equity, venture capital, stock exchange listing: all are methods of raising equity finance. This unit looks at the processes used and the markets available across the world for raising such finance, as well as looking into the reasons why some companies choose cross-listing on stock exchanges.
After studying this unit you should be able to:
- understand private equity and the role of venture capital companies in providing this;
- understand why and how public equity issues can be undertaken;
- look at the reasons for cross-listing on stock exchanges;
- examine why a company might de-list from an exchange and return to private ownership.
- Current section: Introduction
- Learning outcomes
- 1 Understanding equity issues
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This unit looks at equity finance – the range of equity instruments and markets available to a company. First, we look at private equity and the role of venture capital companies that provide such finance. We look at the mechanics of an initial public offering (IPO) and at recent cases of companies ‘listing’ on a stock exchange for the first time. We go on to explore certain important strategic issues for a business when considering equity finance:
When should a company list? What factors affect the timing of an equity issue?
Why should a company list on more than one stock exchange? This is known as ‘cross-listing’.
Why might a company choose to buy back its shares and why might it de-list from an exchange?
Throughout this unit you will find extensive references to literature and websites. These should be explored to deepen and broaden your understanding of the issues raised.
This material is from our archive and is an adapted extract from Issues in international finance and investment (B853) which is no longer taught by The Open University. If you want to study formally with us, you may wish to explore other courses we offer in this.
This is an extract from an Open University course which is no longer available to new students. If you found this interesting you could explore more free Accounting and Finance courses or view the range of currently available OU Accounting and Finance courses.
Copyright & revisions
Originally published: Tuesday, 12th July 2011
- Creative-Commons: The Open University is proud to release this free course under a Creative Commons licence. However, any third-party materials featured within it are used with permission and are not ours to give away. These materials are not subject to the Creative Commons licence. See terms and conditions. Full details can be found in the Acknowledgements section.
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