Questions

Prof. Florencio Lopez-de-Silanes Case: Huaneng Power global INC. 1. You piddle been hired as an foreign investing banker by a large U.S. institutional investor who is considering purchasing HPI stock. admit an compend of i) mainland China as an investment destination, ii) key success factors, and iii) HPIs strengths and weaknesses. 2. HPI privations to access financial markets. What be the options available to the hearty? Provide pros and cons of available options in particular, exercise with: a. Debt markets. b. right markets: i. In particular, what casing of leaning is suitable for Huaneng to be? i.e. domestic eithery within China and internationally, listing in Hong Kong, neat of the United Kingdom and the US. (In the US between different ADR levels) ii. What be the benefits for a non-US firm that decides to list on a US exchange? 3. What is the in effect(p) speak to of jacket crown for the various Equity options? Measure and rationalise the be of capital for each fairness option. 4. Now infer you ar HPIs investment banker and you are proposing an ADR on the NYSE.

You necessitate to win over HPIs bearer of the toll at which they should have it saturnine the brand name dos? What is a reasonable share price? why? 5. What judicial writ of execution strategy would you mention? Present your recommendation on whether, how and why HPI should have proceeded with the issue. 6. As the investment banker of the institutional investor, would you have recommended to taint stock in this company at all? At what price? Why? 7. Given the current international investor environment (and not in 1994), what steps could HPI and the Chinese governing body shoot down to make it easier for firms from China to raise capital internationally? If you want to abbreviate a full essay, tell it on our website: Orderessay

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