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Public debt |
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Public debtIssues of debt by governments to compensate for a lack of tax revenues.Public debt Similar MatchesPublicly heldPublicly heldDescribes a company whose stock is held by the public, whether individuals or business entities. Public offering pricePublic offering priceThe price of a new issue of issue at the time that the issue is offered to the public. Public housing authority bondPublic housing authority bondBonds of local public housing agencies that are secured by the federal government and whose proceeds are used to provide low-rent housing. Public limited company (plc)Public limited company (plc)A company registered as a public company which has an unlimited number of shareholders, and can offer its shares to the public.Most UK companies are incorporated as limited companies. Some of them grow to the point where they want to expand their shareholder base, and raise capital by listing on the London Stock Exchange. To do that, they need to convert their status to that of a plc. Initial public offeringInitial public offeringThe first offering of a company's shares to the public known in the UK as a flotation. IPO was originally an American term but is increasingly being used across all world markets The shares offered may be existing ones held privately, or the company may issue new shares to offer to the public.There can be lots of reasons why companies offer shares to the public:the directors want to raise new capital for the companythe directors want to widen the shareholder base of the companythe shareholders want to have a liquid market in which to trade their sharesthe directors want to be able to use 'paper' to make acquisitionsthe directors want the publicity that a public listing bringsIn recent years there has been a tendency for companies to list on the market by a private placing of shares to institutions rather than public offerings. This is partly because the costs of a placing are far lower than an offer for sale, and partly it is because in 1996 the Stock Exchange scrapped its rule requiring that new issues worth more than £50m should offer a proportion to the public.Whatever the reason, it rankles that members of the public are so often denied the chance to 'get in on the ground floor' while institutions clean up. The internet may reverse the trend, however. There have already been several online flotations in the USA and Europe in which private investors get full participation rights. These are sometimes referred to as EPOs (Electronic Public Offerings).One of the advantages of buying shares in IPOs is that they do not attract Stamp Duty (0.5% tax normally paid on share purchases) and since you can buy direct from the issuing company you can avoid broker's commission. Further Suggestionsgoing publicQuasi public corporation public offering Public purpose bond Public securities offering The Public electronic public offering International Stock Exchange of the UK and the Republic of Ireland (ISE) Financial public relations go public Going public Public Company Nonpublic information Certified Public Accountant (CPA) Public procurement Public offering Public Sector Borrowing Requirement Public warehouse Public limited partnership Public good Public Sector Net Cash Requirement Publicly traded assets Foreign public borrower Public Utility Holding Company Act of 1935 Public Securities Administration (PSA) |
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