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Seminar paper from the year 2001 in the subject Business economics - Miscellaneous, grade: 2,2, Hogeschool Zeeland (Economics), language: English, abstract: Inhaltsangabe:Abstract:
The following chapters contents can be divided into two parts. One part shall provide an overall view on the schedule of an IPO. Certain hints that are given during that part are further described later on. To let you know which other arrangements are thinkable, the other part focusses on the theoretical possibilities to realize an IPO. To make the explanations more plastic, examples with Deutsche Telekom AG will come up. To realize this complex structure, first of all, the actual situation of Deutsche Telekom AG will be explained with all its business fields and networks of cooperation activities, and, of course, strategies already executed.
A central question in the corporate convergence debate is the extent to which parties will settle on a shareholder capitalism model, in which managerial accountability will be measured against a public shareholder wealth maximization criterion. This paper evaluates one spectacular event for the impact on German corporate governance: the privatization of Deutsche Telekom. This outstanding transaction had symbolic impact, because it made many Germans shareholders for the first time, but the terms of the transaction substantially protected these shareholders against equity risk and deprived them of governance rights.
Inhaltsverzeichnis:Table of Contents:
INDEX OF ILLUSTRATIONS6
1.FOREWORD7
2.ABSTRACT OVERVIEW7
3.COMPANY PROFILE: DEUTSCHE TELEKOM AG7
3.1Internet Services9
3.2Data and IP Systems Solutions10
3.3Access/Networks10
3.4T-Mobile International AG10
3.4.1T-Mobile in Germany11
3.4.2T-Mobile in UK12
3.4.3T-Mobile in Austria13
3.4.4T-Mobile in the Netherlands13
3.4.5T-Mobile Investments in Eastern and Central Europe13
3.4.6T-Mobile investments in the USA14
3.5Services14
3.6Partnerships15
4.INTRODUCTION IPO15
4.1Reasons for Transformation18
4.2Targets of Transformation19
5.SCHEDULE OF AN IPO19
6.THEORETICAL POSSIBILITIES FOR AN IPO21
6.1IPO Feasibility22
6.1.1Changing the Statutes of the Company23
6.1.2Capital Need27
6.1.3Responsible Authority for the IPO Decision27
6.1.4Increase of Capital29
7.CHOICE OF THE MARKET SEGMENT34
7.1 Amtlicher Handel 36
7.1.1Characteristics36
7.1.2Admittance Requirements36
7.1.3Post-IPO Publicity Duties37
7.2 Geregelter Markt 37
7.2.1Characteristics37
7.2.2Admittance Prerequisites38
7.2.3Post-IPO Publicity Duties39
7.3 Freiverkehr 39
7.3.1Characteristics39
7.3.2Admittance Requirements39
7.3.3Post-IPO Publicity Duties40
7.4 Neuer Markt 40
7.4.1Characteristics40
7.4.2Admittance Requirements41
7.4.3Post-IPO Publicity Duties42
7.4.4The Leadmanager46
7.4.5Selected Contract Details46
8.PERFORMANCE49
9.DISTRIBUTION49
10.AFTERMARKET50
10.1Syndicate - Composition of a bank consortium for the IPO50
10.1.1Bought Deal52
10.1.2Other Contract Details53
10.1.3Due Diligence53
10.1.4Investor Relations54
10.1.5Mandatory Investor Relations Activities during the IPO Process55
10.1.6Voluntary Investor Relations Activities during the IPO Process56
10.1.7Mandatory Investor Relations Activities after the IPO Process56
10.1.8Voluntary Investor Relations Activities after the IPO57
11.TEMPORARY SALES PROSPECTUS59
12.SALES PROSPECTUS60
12.1Research Studies61
12.2Pricing methods62
12.2.1Bookbuilding62
12.2.2Greenshoe64
12.2.3Fixed-Price Method65
12.2.4Offer by tender66
13.GOING PUBLIC OF DEUTSCHE TELEKOM66
13.1The initial public offering in 199666
13.2The secon...
Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
The following chapters contents can be divided into two parts. One part shall provide an overall view on the schedule of an IPO. Certain hints that are given during that part are further described later on. To let you know which other arrangements are thinkable, the other part focusses on the theoretical possibilities to realize an IPO. To make the explanations more plastic, examples with Deutsche Telekom AG will come up. To realize this complex structure, first of all, the actual situation of Deutsche Telekom AG will be explained with all its business fields and networks of cooperation activities, and, of course, strategies already executed.
A central question in the corporate convergence debate is the extent to which parties will settle on a shareholder capitalism model, in which managerial accountability will be measured against a public shareholder wealth maximization criterion. This paper evaluates one spectacular event for the impact on German corporate governance: the privatization of Deutsche Telekom. This outstanding transaction had symbolic impact, because it made many Germans shareholders for the first time, but the terms of the transaction substantially protected these shareholders against equity risk and deprived them of governance rights.
Inhaltsverzeichnis:Table of Contents:
INDEX OF ILLUSTRATIONS6
1.FOREWORD7
2.ABSTRACT OVERVIEW7
3.COMPANY PROFILE: DEUTSCHE TELEKOM AG7
3.1Internet Services9
3.2Data and IP Systems Solutions10
3.3Access/Networks10
3.4T-Mobile International AG10
3.4.1T-Mobile in Germany11
3.4.2T-Mobile in UK12
3.4.3T-Mobile in Austria13
3.4.4T-Mobile in the Netherlands13
3.4.5T-Mobile Investments in Eastern and Central Europe13
3.4.6T-Mobile investments in the USA14
3.5Services14
3.6Partnerships15
4.INTRODUCTION IPO15
4.1Reasons for Transformation18
4.2Targets of Transformation19
5.SCHEDULE OF AN IPO19
6.THEORETICAL POSSIBILITIES FOR AN IPO21
6.1IPO Feasibility22
6.1.1Changing the Statutes of the Company23
6.1.2Capital Need27
6.1.3Responsible Authority for the IPO Decision27
6.1.4Increase of Capital29
7.CHOICE OF THE MARKET SEGMENT34
7.1 Amtlicher Handel 36
7.1.1Characteristics36
7.1.2Admittance Requirements36
7.1.3Post-IPO Publicity Duties37
7.2 Geregelter Markt 37
7.2.1Characteristics37
7.2.2Admittance Prerequisites38
7.2.3Post-IPO Publicity Duties39
7.3 Freiverkehr 39
7.3.1Characteristics39
7.3.2Admittance Requirements39
7.3.3Post-IPO Publicity Duties40
7.4 Neuer Markt 40
7.4.1Characteristics40
7.4.2Admittance Requirements41
7.4.3Post-IPO Publicity Duties42
7.4.4The Leadmanager46
7.4.5Selected Contract Details46
8.PERFORMANCE49
9.DISTRIBUTION49
10.AFTERMARKET50
10.1Syndicate - Composition of a bank consortium for the IPO50
10.1.1Bought Deal52
10.1.2Other Contract Details53
10.1.3Due Diligence53
10.1.4Investor Relations54
10.1.5Mandatory Investor Relations Activities during the IPO Process55
10.1.6Voluntary Investor Relations Activities during the IPO Process56
10.1.7Mandatory Investor Relations Activities after the IPO Process56
10.1.8Voluntary Investor Relations Activities after the IPO57
11.TEMPORARY SALES PROSPECTUS59
12.SALES PROSPECTUS60
12.1Research Studies61
12.2Pricing methods62
12.2.1Bookbuilding62
12.2.2Greenshoe64
12.2.3Fixed-Price Method65
12.2.4Offer by tender66
13.GOING PUBLIC OF DEUTSCHE TELEKOM66
13.1The initial public offering in 199666
13.2The secon...
Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.