The term Initial Public Offering (IPO) have been ubiquitous in business news since the 1990’s when some Internet IPOs reached astronomical valuations and turned their founders and early investors into billionaires. Notwithstanding periods of “hot” and “cold” IPO markets since 1990’s, numbers of IPOs have been steadily increasing since 2011. In the first 6 months of this year, 772 companies throughout the world went public via IPO and raised U$83.4 billion. 60% (468) of those deals took place in the Asia-Pacific, accounting for 44% (or U$37 billion) of the global proceeds. It is expected that IPOs will become a common occurrence in Brunei Darussalam as the country is developing its own stock exchange. This workshop will explain the process of IPOs including advantages and disadvantages of going public as well as examples of successful and unsuccessful IPOs.
Participants will have the opportunity to analyze the short-term and the long-term returns to investors in IPOs. Furthermore, they will examine relevant IPO issues utilizing case studies of Alibaba’s and Facebook’s IPO and take a peek at the impending IPO by the world’s largest company – Saudi Aramco. Through the example of Aramco, we will also discuss Shariah-compliant companies as well as Islamic equites.
At the end of this programme, participants will have better understanding of:
• IPO underpricing (short-term returns to investors in IPOs)
• Long-term returns to investors in IPOs
• Advantages and disadvantages of IPOs
• The IPO process
• Conventional and Islamic approaches to IPOs
WHO SHOULD ATTEND
• Regulators and practitioners in the areas of Corporate Finance, Investments & Capital Markets.
• Interested parties with beginner or intermediate level of understanding of IPOs
Dr. Emir obtained a Ph.D. in Finance from Tulane University in 2005 and has since held research & teaching positions at Tulane University (2005 – 2006), Virginia Tech University (2006 – 2007), and National University of Singapore (2007 – 2016). He has been the CEO of CIBFM since 2016. Dr. Emir frequently receives invitations to speak on TV including BBC World News, Bloomberg TV and Channel News Asia. He is often invited to provide expert commentaries in the business press including Washington Post, Bloomberg, and Reuters. During his career, Dr. Emir has published a number of case studies with a unique Asian perspective, such as “Alibaba’s IPO Dilemma: Location, Timing and Pricing,” “Toyota’ Innovative Share Issue” and “Emirates Airline: A Billion Dollar Sukuk-Bond Issue.” These case studies are widely-used in finance programs at the top universities including Stanford, Cornell, and New York University.
Dr. Emir also authored a number of research papers and presented them at over 50 universities and conferences in the US, Europe, Asia and Australia. Dr. Emir has taught in a number of Executive Education programs including “UCLA – NUS Executive MBA” and “Chicago Booth – NUS Emerging CFOs for Asia” as well as various courses at the undergraduate, MBA and Ph.D. levels.