荣耀之路【外文翻译】

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1、外文翻译PathstogloryMaterialSource:http://venturebeat.com/2010/10/25/three-tactics-to-speed-company-growth/Author:PaulTetlowApubliclistingremainsoneofthebestroutestoaccelerateacompany’sgrowth,apartneratinternationallawfirmHunton&Williams,outlinesthemosteffectivewaystoraisebothfinanceandprofi

2、leasapubliclyquotedentity.TherehasbeenacautiousreturnofconfidencetotheUKpublicequitymarketsduring2010.Inthefirstfivemonthstherewere57IPOs(2009:14)ontheOfficialListandtheAlternativeInvestmentMarket(AIM),raising£3.9billion(2009:£226.12million).Muchoftheinterestwasinnaturalresourceproductio

3、ncompanies,whichareregardedaslowerriskthanmanyothersectors,butthesefiguresneverthelessmarkanimprovementinthemarketwhencomparedwith2009.Clearly,thepublicmarketscanstillprovideenormousfinancialfirepowerforambitiousbusinessesintentonfastgrowth.Forthosecompaniesseekingtoraisecapital,themostc

4、ommonrouteisthroughanadmissionorlistingsothatacompany’ssharesaretradedonacapitalmarket.Thisisoftencoupledwithafundraising(usuallyaplacing)andgenerallyreferredtoasaninitialpublicoffering,orIPO(althoughitmaynotactuallybe“initial”,asthecompanymayhaveraisedseedfundingatanearlierstage,anditma

5、ynotbea“public”offerifitisdonebywayofaninstitutionalplacing).TheprocessrequirestheproductionofaprospectusinthecaseofalistingontheOfficialListoranadmissiondocument(whichmayalsobeaprospectusifitisapublicoffer)inthecaseofAIM.OnesuchcompanythatwebroughttoAIMearlierthisyearwasBellzoneMining,a

6、nironoreexplorationanddevelopmentcompanywithsignificantassetsinGuinea.Itraised£33.6millionbywayofashareplacingtogiveitaninitialmarketcapitalisationof£184.5million.PlacingsForaplacing,wherebysharesareissuedonanon-pre-emptivebasistoinstitutionalandotherqualifyinginvestors,acompanyisrequire

7、dtohaverequisiteauthorityfromitsshareholderstoissuesuchshares,whichmayalreadyexistorbe9obtainedviaanextraordinarygeneralmeeting(EGM).Inaddition,companiesontheOfficialListwillberequiredtoproduceaprospectusiftheyissuemorethan10percentoftheirexistingissuedsharecapital.ThePre