Cornerstone Investors

A Practice Guide for Asian IPOs

Philippe Espinasse

Hong Kong University Press

Cornerstone Investors

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Pub Date: April 2018

ISBN: 9789888455843

256 Pages

Format: Hardcover

List Price: $45.00£37.95

Cornerstone Investors

A Practice Guide for Asian IPOs

Philippe Espinasse

Hong Kong University Press

In this groundbreaking guide, former investment banker Philippe Espinasse explains the process of gathering cornerstone investors in connection with IPOs and other equity offerings.

Using his trademark simple and jargon-free language, he details the targeting strategies, documentation, marketing, and allocation of shares and other securities to these reference shareholders and analyzes why and how they make or break today’s new listings across Asia’s key markets. This essential guide—and the first of its kind—contains key information on the legal framework for cornerstone investors in Hong Kong, Malaysia, and Singapore and offers practical advice on how best to structure and conduct a cornerstone investor offering. It also discusses some of the more controversial issues associated with the practice of cornerstone investment and includes many real-life examples of cornerstone deals, sample documents, cornerstone investor profiles, an investor target list, and a comprehensive glossary.
There is no better person to shed light on the opaque world of cornerstone investing in Asian IPOs. Philippe Espinasse writes clearly, substantively, and expertly. Jasper Moiseiwitsch, Asia companies and markets news editor, Financial Times
As engaging as it is informative. Espinasse has cut through legalese and jargon to create a pragmatic overview of this widely misunderstood, and distinctly Asian, investment banking concept. Packed with recent examples, this book doesn’t just teach you about cornerstones; it also provides an insider’s take of the region’s capital markets hubs. Danielle Myles, capital markets editor, The Banker
Cornerstone investors have taken center stage in Hong Kong’s IPO market. This book is needed now more than ever. Matthew Thomas, Asia bureau chief, Euromoney Institutional Investor

About the Author

Philippe Espinasse was a senior investment banker for almost two decades. He has worked on IPOs and capital markets transactions in thirty countries. He is the author of IPO: A Global Guide and IPO Banks: Pitch, Selection, and Mandate and maintains a personal website: www.ipo-book.com.