Free Porn
xbporn
Free Porn





manotobet

takbet
betcart




betboro

megapari
mahbet
betforward


1xbet
teen sex
porn
djav
best porn 2025
porn 2026
brunette banged
Ankara Escort
1xbet
1xbet-1xir.com
1xbet-1xir.com
1xbet-1xir.com

1xbet-1xir.com
1xbet-1xir.com
1xbet-1xir.com

1xbet-1xir.com
1xbet-1xir.com
1xbet-1xir.com
1xbet-1xir.com
1xbet-1xir.com
1xbet-1xir.com
1xbet-1xir.com
betforward
betforward.com.co
betforward.com.co
betforward.com.co

betforward.com.co
betforward.com.co
betforward.com.co
betforward.com.co

betforward.com.co
betforward.com.co
betforward.com.co
betforward.com.co
betforward.com.co
betforward.com.co
betforward.com.co
deneme bonusu veren bahis siteleri
deneme bonusu
casino slot siteleri/a>
Deneme bonusu veren siteler
Deneme bonusu veren siteler
Deneme bonusu veren siteler
Deneme bonusu veren siteler
Cialis
Cialis Fiyat
deneme bonusu
padişahbet
padişahbet
padişahbet
deneme bonusu 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet 1xbet untertitelporno porno 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet وان ایکس بت 1xbet 1xbet سایت شرط بندی معتبر 1xbet وان ایکس بت pov leccata di figa
best porn 2025
homemade porn 2026
mi masturbo guardando una ragazza
estimare cost apartament precisă online
blonde babe fucked - bigassmonster

+92 348 677 5142

professionalwriter778@gmail.com

BAF/StudentNumber/Jul21/A4

JULY 2021 SEMESTER – ASSIGNMENT QUESTIONS
1
Business Accounting & Finance – A4 Assignment – Final Individual Assignment
VALUE CREATION
Assignment Instructions:

Assignment ReferenceBAF/StudentNumber/Jul21/A4
Due Date30 November 2021
Word count (if applicable)Maximum 2,500 words
Weighting25% of the total mark for the course
File FormatMS Office or PDF
Submission DetailsTurnitin/Blackboard – instructions
provided on Blackboard

Assignment Question:
The assignment is based on the following documents
 A case study: ‘Snap Inc.’s IPO’
 Snap Inc.’s IPO prospectus
 An Excel file containing daily share price of Snap from its IPO to
March 2020 (Snap shareprice)
 Snap’s Annual Report 2020
Read the above documents and the IPO book (e-copy available on Blackboard)
to answer the following questions. You can use external references/material
from credible sources (such as the financial press and journal articles):
(i) An IPO marks a strategic milestone for a company.
(a) What may have motivated Snap to go public?
(b) In your opinion, why did Snap choose to list on the New York Stock
Exchange (NYSE) instead of Nasdaq?
(c) Why do you think Snap chose to conduct its IPO in 2017?
(d) What can you say about the primary and secondary shares sold in the Snap
IPO? How did Snap plan to use the proceeds of the IPO?
(e) Explain the unusual share structure of Snap. How would new investors be
affected by Snap’s share structure?
(20 marks)
(ii) What is an IPO over-allotment (Greenshoe) option? Describe the over-allotment
option included in Snap’s IPO? (5 marks)
(iii) The underwriting investment bank takes on a central role in the IPO process.
(a) What are the key tasks executed by the underwriter?
JULY 2021 SEMESTER – ASSIGNMENT QUESTIONS
2
(b) What are primary considerations when selecting an underwriter?
(c) Often, multiple underwriters are involved. In the case of Snap, a syndicate
of 7 underwriters was involved in the IPO. What are the main motivations for
syndication?
(d) How much compensation was paid to the underwriters of Snap? How does
it compare to the average compensation paid to underwriters in US IPOs?
(e) What do you understand by ‘price-stabilization’ activities conducted by the
underwriter(s)? Do you think the underwriters were involved in pricestabilization of the Snap IPO? (25 marks)
(iv) Describe what happens during ‘book-building’ of an IPO. What price range was
used for book building of the Snap IPO? Why do you think Snap priced its offering
above the initial book-building price range? (10 marks)
(v) Without conducting a formal valuation analysis and based on the information given
in the case study, the IPO prospectus and external resources (such as media
coverage at the time of the IPO), discuss the pricing of the Snap IPO. Would you have
invested in Snap at the offer price of $17? (10 marks)
(vi) What are IPO lock-up agreements? Describe the lock-up agreement of the Snap
IPO. Was the Snap lockup agreement in line with that of other IPOs in the US?
(8 marks)
(vii) The diagram below shows the performance of Snap shares from March 2017 to
March 2020. The first day of public trading of Snap’s shares was 2nd March 2017.
Shares were sold in the IPO at an offer price of $17.00. More information on daily
share price movements is available in the Excel file (Snap shareprice).
5 0
10
15
20
25
30
SNAP’s share price ($)
JULY 2021 SEMESTER – ASSIGNMENT QUESTIONS
3
Source: Yahoo Finance
Based on a visual examination of the chart above, how does the performance of the
Snap IPO compare with average IPO performance documented by past empirical
studies
i. in terms of the short term (1st trading day or the first week of trading)?
ii. and over the longer term (3 years)?
Past studies have suggested a number of explanations for short-run underpricing and
long-run underperformance of IPOs. Discuss the ones which you think are relevant to
Snap’s case? (12 marks)
(viii) In the light of the main theories of capital structure, provide a discussion of the
evolution of the capital structure of Snap in the initial three years after its IPO. You will
find Snap’s Annual Report 2020 helpful in answering this question.
(10 marks)
End of Assignment

More from the blog

Sample Literature Review

Ch 2: Literature Review 2.1: Chapter Overview The purpose of this chapter is to give the review of existing literature to build the current research. It...

This question paper consists of 2 printed pages, each is identified by the Code Number LUBS2405  © UNIVERSITY OF LEEDS (Semester 2, 2020/2021)   Assessed...

MGT5173,MGT5293,MGT5292,MGT5291

Nilay BalkanMGT5173,MGT5293,MGT5292,MGT5291DCoursework Briefing 2020/21(individual, written)Coursework information Course CodeMGT5173,MGT5293,MGT5292,MGT5291Course TitleMarketing ManagementCourse CoordinatorNilay BalkanCoursework formatWritten assignment, including essayWeighting60%Word limitCourse Coordinator to populate2,500 words (+/- 10%) Refer to...

Managing Information and Knowledge Strategically

Nottingham Business School EXAMINATION PAPER(UNDERGRADUATE ONLINE OPEN BOOK)Module Name: Managing Information and Knowledge StrategicallyModule Code: BUSI30508Examination Period: Half Year 2Time: Start time: 10:00 a.m....