q****x
发帖数: 7404 | 1 【 以下文字转载自 Quant 讨论区 】
发信人: quantx (X矿工), 信区: Quant
标 题: 请教IPO问题
发信站: BBS 未名空间站 (Mon Sep 5 14:36:11 2011, 美东)
以即将上市的Zynga为例，现估值20B，要发行1B。
1. 这部分上市流通的股票是发新股，还是现有股东按比例摊派？
2. 上市后，高管和员工持股有半年锁定期？VC不受限制，上市第一天即可出售？另外
董事会成员算高管吗？ |
m*******i
发帖数: 8711 | 2 1。 it is most likely a mix: new shares + some shares from existing share
holders.
2. same lock period unless do it through 1. |
q****x
发帖数: 7404 | 3 really? if so, lnkd would have a heavy selling pressure in nov, as vc would
be eager to exit.
【在 m*******i 的大作中提到】
: 1。 it is most likely a mix: new shares + some shares from existing share
: holders.
: 2. same lock period unless do it through 1.
|
r****c
发帖数: 2585 | 4 as well old employee just want to retire
would
【在 q****x 的大作中提到】
: really? if so, lnkd would have a heavy selling pressure in nov, as vc would
: be eager to exit.
|
m*******i
发帖数: 8711 | 5 Why everyone have to dump at the same time?
Did goog drop when its lockout period ends? If LNKD can generate 500M
revenue this year, and double it next year. 7B is not expensive at all.
would
【在 q****x 的大作中提到】
: really? if so, lnkd would have a heavy selling pressure in nov, as vc would
: be eager to exit.
|
q****x
发帖数: 7404 | 6 well, vc's are chasing higher returns. they can invest those cash-out into
small start-ups again, and leave the stocks to mf's and hf's.
an important purpose of ipo is to provide vc with an express way to exit.
【在 m*******i 的大作中提到】
: Why everyone have to dump at the same time?
: Did goog drop when its lockout period ends? If LNKD can generate 500M
: revenue this year, and double it next year. 7B is not expensive at all.
:
: would
|
m*******i
发帖数: 8711 | 7 they've already dumped some through IPO.
In most of cases, they will distribute most of shares to limited partners
which will be a tax free transactions.
【在 q****x 的大作中提到】
: well, vc's are chasing higher returns. they can invest those cash-out into
: small start-ups again, and leave the stocks to mf's and hf's.
: an important purpose of ipo is to provide vc with an express way to exit.
|
q****x
发帖数: 7404 | 8 by distributing you mean vc sells the stocks to its l.p.?
tax free sounds reasonable, as those l.p.'s need to file tax when they cash
out.
【在 m*******i 的大作中提到】
: they've already dumped some through IPO.
: In most of cases, they will distribute most of shares to limited partners
: which will be a tax free transactions.
|
