Financial Regulatory Forum

Road shows, analysts and jumping the gun: the Facebook IPO

By Helen Parry, additional reporting by Julie Dimauro

LONDON/NEW YORK, May 25 (Thomson Reuters Accelus) – Facebook’s chaotic initial public offering has sparked much speculation and legal action based on the idea that securities laws and regulations over disclosure may have been breached, which would leave Facebook and others involved in the offering process liable to potential regulatory enforcement or civil liability for losses caused to investors.

An analyst at lead underwriter Morgan Stanley cut his revenue forecasts for Facebook in the days before the offering, information that may not have reached many investors before the stock was listed, Reuters has reported. (more…)

Rolling the Dice: Carlyle filing discloses private equity IPO risks

NEW YORK, Sept. 22 (Business Law Currents) - As a turbulent IPO market continues to flail, The Carlyle Group, one of the world’s great private equity houses, is going public. With $153 billion in assets under management (AUM), the guys at Carlyle are no dummies. So when so many companies are pulling back, why go public now? A look at Carlyle’s risk disclosures may yield some clues. The timing of the offering, while superficially curious, may at its core be linked to uncertainty over the partnership’s ability to maneuver in ever-shifting tax and regulatory regimes.

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IPOs Rising: Hong Kong’s Siren Song, Meet Regulatory Gatekeeper

Hong Kong’s stock exchange beckons with an equity market “siren song”, a song that is being heard by a growing number of foreign firms, from Asia and beyond, writes Helen H Chang of Westlaw Business Currents. (more…)

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