Reversal of Fortune; American Stockmarkets  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 399 no. 8728 (Apr. 2011), page 75.
Topik: Stockmarkets; The New York Stock Exchange; Private Company; Public Markets; Investor; IPO (Initial Public Offering)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.65 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Numerous threats to the integrity of American public stockmarkets have emerged over the past year, including last May's "flash crash" and--if you believe its critics--NASDAQ's proposal to merge with the New York Stock Exchange. Now another menace is flashing on regulators' radar screens: the "reverse merger", in which a private company goes public by combining with a listed shell company rather than via an initial public offering (IPO). The practice, also known as "back-door registration", is not new. It has long been used by small firms looking for a cheaper, easier route to public ownership. There are no underwriting fees, for instance. Unfortunately, it also risks allowing dodgy outfits to access public markets, and thus lure investors, because it enables them to avoid some of the disclosure--and the vetting by regulators, investors and underwriters--to which firms doing IPOs are subject.

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