Aims and scope:
Read the journal article written by Dr. Ahmed “Extreme IPO underpricing and the legal environment in wealthy emerging economies”. The article is published by the Multinational Financial Management Journal. It is an article investigates the IPOs that occurred in the GCC region between 2003 and 2010. You need to use the article as a reference.
• Include all references used in your report;
Initial public offerings (IPOs) can be defined as the first sale of a company’s stocks to the public. It is a transition for the company from being a privately owned enterprise to become a publicly owned one.
In recent years, the GCC region has experienced a rapid increase in the number of companies conducting IPOs and joining the stock market.
In this assignment, you are required to do a research on four IPOs of your choice, two from Tadawul and two from Dubai Financial Market.
Task 1. General information (20%)
Pick Four IPOs from the Tadawul and Dubai Financial market and do the following:
Q1. For each IPO, state when it went public and became listed in the stock market.
Q2. How much each IPO has raised in the offering? What was the offering price? How many shares were offered? State the equivalent $USD amount.
Q3. What does oversubscription mean? How much each of these IPOs were oversubscribed by? How many subscribers participated in the offering?
Q4. Allocation means the number of shares that each subscriber receives, how many shares the subscribers have received in each of your IPOs?
Q5. What does “hot issue market” mean? When did this occur in the GCC region? When was the peak of IPOs exactly? How many IPOs occurred that year?
Q6. Find the underpricing (the raw return) for each IPO?
Q7. Find the adjusted underpricing for each IPO? Adjust your answer with the general market index for every country?
Q8. Find he average raw and average adjusted underpricing for the four IPOs? Find the median underpricing for the four? What was the maximum among the four? What was the minimum among the four?
Q9. What was the opening price for your IPOs in the listing day? What was the high in the listing day? What was the low in the listing day?
Task 2: Operating performance (40%)
Compare the operating performance in terms of profitability of each of these IPOs three years before the IPO and three years after the IPO. What do you observe? Is the IPO performance better or worse after the IPO?
Task 3: Stock returns (40%)
Find the stock performance of these IPOs on a monthly basis for three years after the IPO. Do this one time using the IPO offering price and one time assuming that you are buying the share on the first day of listing off the market. How is the share performance? Was it a good investment compared to the market index.
Compelling correspondence is essential to the achievement all things considered but since of the changing idea of the present working environments, successful correspondence turns out to be more troublesome, and because of the numerous impediments that will permit beneficiaries to acknowledge the plan of the sender It is restricted. Misguided judgments.In spite of the fact that correspondence inside the association is rarely completely open, numerous straightforward arrangements can be executed to advance the effect of these hindrances.
Concerning specific contextual analysis, two significant correspondence standards, correspondence channel determination and commotion are self-evident. This course presents the standards of correspondence, the act of general correspondence, and different speculations to all the more likely comprehend the correspondence exchanges experienced in regular daily existence. The standards and practices that you learn in this course give the premise to additionally learning and correspondence.
This course starts with an outline of the correspondence cycle, the method of reasoning and hypothesis. In resulting modules of the course, we will look at explicit use of relational connections in close to home and expert life. These incorporate relational correspondence, bunch correspondence and dynamic, authoritative correspondence in the work environment or relational correspondence. Rule of Business Communication In request to make correspondence viable, it is important to follow a few rules and standards. Seven of them are fundamental and applicable, and these are clear, finished, brief, obliging, right, thought to be, concrete. These standards are frequently called 7C for business correspondence. The subtleties of these correspondence standards are examined underneath: Politeness Principle: When conveying, we should build up a cordial relationship with every individual who sends data to us.
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It is a unique cycle that oversees force, closeness and limits, cohesiveness and flexibility of route frameworks, and makes pictures, topics, stories, ceremonies, rules, jobs, making implications, making a feeling of family life An intelligent cycle that makes a model. This model has passed ages. Notwithstanding the view as a family and family automatic framework, one of the greatest exploration establishments in between family correspondence centers around a family correspondence model. Family correspondence model (FCP) hypothesis clarifies why families impart in their own specific manner dependent on one another ‘s psychological direction. Early FCP research established in media research is keen on how families handle broad communications data. Family correspondence was perceived as an exceptional scholastic exploration field by the National Communications Association in 1989. Family correspondence researchers were at first impacted by family research, social brain science, and relational hypothesis, before long built up the hypothesis and began research in a family framework zeroed in on a significant job. Until 2001, the primary issue of the Family Communication Research Journal, Family Communication Magazine, was given. Family correspondence is more than the field of correspondence analysts in the family. Examination on family correspondence is normally done by individuals in brain science, humanism, and family research, to give some examples models. However, as the popular family correspondence researcher Leslie Baxter stated, it is the focal point of this intelligent semantic creation measure making the grant of family correspondence special. In the field of in-home correspondence, correspondence is normally not founded on autonomous messages from one sender to one beneficiary, yet dependent on the dynamic interdependency of data shared among families It is conceptualized. The focal point of this methodology is on the shared trait of semantic development inside family frameworks. As such, producing doesn’t happen in vacuum, however it happens in a wide scope of ages and social exchange.
Standards are rules end up being followed when performing work to agree to a given objective. Hierarchical achievement relies significantly upon compelling correspondence. So as to successfully impart, it is important to follow a few standards and rules. Coming up next are rules to guarantee powerful correspondence: clearness: lucidity of data is a significant guideline of correspondence. For beneficiaries to know the message plainly, the messages ought to be sorted out in a basic language. To guarantee that beneficiaries can without much of a stretch comprehend the importance of the message, the sender needs to impart unmistakably and unhesitatingly so the beneficiary can plainly and unquestionably comprehend the data.>