Equity Capital Markets (ECFS991)

This unit will only be offered in Beijing in 2018

This unit covers core methods for the raising and management of equity capital. In particular, students can anticipate completing the unit with a fundamental working practical knowledge of the processes and core theory that is required to conclude a successful IPO or secondary market equity capital raising. The unit also explores a range of capital management techniques, including share buybacks.

Learning Outcomes:

  1. Compare, contrast and critically evaluate major types of equity capital raisings (both primary and secondary market issuance) in terms of their role in the organisation’s capital strategy, and their costs, risks and benefits.
  2. Understand and apply capital management strategies and techniques, including the role of alternative mechanisms for returning capital to shareholders.
  3. Understand regulatory and market requirements of equity raisings and capital return mechanisms.
  4. Ability to implement major types of equity capital raisings, including IPO’s, secondary market offers, block trades or share buybacks. This will cover the process from selection of appropriate method, pricing, legal and regulatory requirements and execution of transaction.

Topics: 

  1. Lecture Slides
  2. ASX Listing Rules – Chapters 1, 2, 7, 9 & 11
  3. ASIC Policy Statements – 56 Prospectuses, 170 Prospective Financial Information, 173 Disclosure for on-sale of securities and other financial products
  4. ASIC Share Purchase Plan class order
  5. ASX Guidance Note – 12 Changes to Activities
  6. ASX paper on capital raisings during the Global Financial Crisis
  7. ASX consultation paper on new rules and timetables for capital raisings
  8. ASX IPO brochure
  9. Takeovers Panel Guidance Note 17
  10. IPO Share Offer Document – Amaysim, MYOB
  11. Rights issue case study – Atlas Iron Limited
  12. Hybrid announcement, presentation and terms – PERL VII

Prerequisite units:

Lecturer:

Unit guide:

Equity Capital Markets - The link will provide a list of guides for this unit. If the desired term/location is not listed, please view the latest one available.

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