- Title
- The relevance and fairness of the JSE ALTX PRE-IPO share pricing methodologies
- Creator
- Magliolo, Jacques
- Subject
- Johannesburg Stock Exchange
- Subject
- Stocks -- Prices -- South Africa
- Subject
- Capital market -- South Africa
- Subject
- Stocks -- Prices -- South Africa -- Econometric models
- Date Issued
- 2012
- Date
- 2012
- Type
- Thesis
- Type
- Masters
- Type
- MCom
- Identifier
- vital:9018
- Identifier
- http://hdl.handle.net/10948/d1018652
- Description
- This three year indepth study was prompted after a decade of working as a corporate advisor for numerous stockbroking firms' corporate advisory and listing divisions. An overwhelming lack of discernible pricing methodology for IPOs on the JSE's Main Board and failed Venture Capital and Development Capital Markets was transferred to the new Alternative Exchange (AltX). This prompted lengthly discussions with former head of JSE's AltX Noah Greenhill. Such discussions are set out in this dissertation and relate to pricing methodologies and the lack of guidance or legislation as set out in the JSE's schedule 21 of Listing requirements. The focus of this dissertation is thus centred on whether the current adopted methodologies to establish a fair and reasonable pre-IPO share price is effective. To achieve this, global pricing methodologies were assessed within the framework of various valuation techniques used by South African Designated Advisors.
- Format
- xv, 218 leaves
- Format
- Publisher
- Nelson Mandela Metropolitan University
- Publisher
- Faculty of Business and Economic Sciences
- Language
- English
- Rights
- Nelson Mandela Metropolitan University
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