Contoh & Contoh Pengambilan Back-Stop |

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Perusahaan XYZ akan dipublikasikan. Ia berencana untuk menerbitkan 10 juta saham dalam penawaran umum perdana. Bank investasinya, Bank ABC, setuju untuk menanggung IPO. Bank ABC membuat dokumen yang merinci model bisnis Perusahaan XYZ, prakiraan keuangan, dan ketentuan penawaran, dan bertemu dengan investor potensial untuk mengukur minat mereka dalam membeli saham. Setelah proses ini selesai, Bank ABC memiliki perjanjian untuk menjual saham sebesar $ 25 per saham.

Namun, Bank ABC juga datang ke perjanjian khusus dengan John Doe, seorang investor kaya, yang setuju untuk menjadi pembeli back-stop Bank ABC. Jika karena alasan tertentu, Bank ABC tidak dapat menjual semua saham dalam IPO (ini disebut bagian yang tidak berlangganan), John Doe setuju untuk membeli sisanya. John Doe, tentu saja, memperoleh biaya untuk setuju untuk menjadi back-stop karena dia mengambil risiko harus membeli (dan kemudian mencoba menerbitkan ulang) sekuritas Perusahaan XYZ.

Mengapa Penting:

A pembeli back-stop adalah seperti asuransi - pembeli menjamin dalam beberapa bentuk bahwa perusahaan (dan bank investasinya) akan mengumpulkan uang yang ingin dibangkitkan.