Conference Magazine - GoingPublic.de - Deutsches Eigenkapitalforum

• a coordinated process of addressing the issuer’s employees
or stakeholders in the offering can be administered efficiently
using a field-tested and proven procedure
• last but not least, the issuer knows his investors and can
direct his communication efforts efficiently at his investor
base, e.g. informing them in time about future placements.
On top of this, in trading the bond on the designated sponsor
or specialist market model, investors will be able to rely
on a proven secondary market infrastructure, providing
maximum liquidity at fair conditions. The Xetra environment
will be increasingly important since regulations such as
MiFID and CRD IV will require institutional investors to bring
a larger share of their order volume to the trading floor. As of
today, the vast majority of all institutional secondary market
transactions are being performed OTC – skipping exchanges,
shunning publicity and transparency.
How does all this work?
Deutsche Börse offers a maximum degree of flexibility with
the option of including the “RSS” tool
• in advance of the institutional placement requiring investors
to invest “at market”.
IPO
• simultaneously with the institutional book building
process. This is particularly attractive for transactions
in the Entry Standard for Corporate Bonds where the
subscription period is usually not terminated until two
weeks have passed
• after the book building process with market prices that
have already been determined institutionally and with a
fraction of the total volume being offered to private investors,
employees or stakeholders.
What’s more, the cost of execution will not be above regular
institutional rates offered by investment banks.
Conclusion
Bond Issuance
Addressing retail investors in general, or employees and
stakeholders in particular, is not something every issuer
would like to do, especially if “high yield” transactions also
involve high risk which is better spread among institutional
investors that specialise in the segment. In most other
cases, though, an issuer’s private investors, employees and
stakeholders may ask “Why?” if they are left out – although
it would be extremely easy to get them involved in the first
place.
PvF Investor Relations = Persönliches Vertrauen
Bond Relations
Peer Group
Equity Story
Vertrauen
Analysten Coaching a
Best Practice
Conference Call
Erfahrung r
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schäftsbericht
Investor Relations
» Creditor Relations beim ibo
» Platzierung und tägliche Routine
» Mittwoch 14. November 2012
14:45 Uhr Raum ffm
Small Caps
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