荣耀之路外文翻译.docVIP

外文翻译 Paths to glory Material Source: /2010/10/25/three-tactics-to-speed-company-growth/ Author: Paul Tetlow A public listing remains one of the best routes to accelerate a company’s growth, a partner at international law firm Hunton Williams, outlines the most effective ways to raise both finance and profile as a publicly quoted entity. There has been a cautious return of confidence to the UK public equity markets during 2010. In the first five months there were 57 IPOs (2009: 14) on the Official List and the Alternative Investment Market (AIM), raising ￡3.9 billion (2009: ￡226.12 million). Much of the interest was in natural resource production companies, which are regarded as lower risk than many other sectors, but these figures nevertheless mark an improvement in the market when compared with 2009. Clearly, the public markets can still provide enormous financial firepower for ambitious businesses intent on fast growth. For those companies seeking to raise capital, the most common route is through an admission or listing so that a company’s shares are traded on a capital market. This is often coupled with a fundraising (usually a placing) and generally referred to as an initial public offering, or IPO (although it may not actually be “initial”, as the company may have raised seed funding at an earlier stage, and it may not be a “public” offer if it is done by way of an institutional placing). The process requires the production of a prospectus in the case of a listing on the Official List or an admission document (which may also be a prospectus if it is a public offer) in the case of AIM. One such company that we brought to AIM earlier this year was Bellzone Mining, an iron ore exploration and development company with significant assets in Guinea. It raised ￡33.6 million by way of a share placing to give it an initial market capitalisation of ￡184.5 million. Placings For a placing, whereby shares are issued on a non-pre-emptive basis to institutional and othe