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Resources for Accountants

BOOK BUILDING: Easy explanation. [Video]

BOOK BUILDING: Easy explanation.

In this video, you will learn about the book building process and how it works.

#bookbuilding #stockmarket #wallstreetmojo #ipo #institutionalinvestors

Chapters:
00:00 – Introduction
00:35 – What is book building, and how does it work?
03:31 – Subtypes of book building
04:39 – Advantages
05:02 – Disadvantages

What is book building, and how does it work?
When a company decides to go public, it may not know the fair value of its shares. One of the most efficient ways to determine this is through the book building process.

The process of book building involves:
Hiring underwriters
Investors bidding
Share pricing
Bidding process transparency
Allotment and settlement

(Explained in detail in the video)

Subtypes of book building
There are two subtypes of book building:
Accelerated book building
This is a fast-track book building process in which everything is done within a couple of days.

Partial book building
In this type of book building, the issue is offered only to a select group of investors.

(Explained in detail in the video)

Advantages
One of the biggest advantages of book building is that it is the most efficient way to determine the fair value of shares.

Since the share price is determined by analyzing aggregate demand for the shares and not based on any price fixed by the company, it is surely an advantage.

Disadvantages
Firstly, it costs the company a lot of money. If the company fixed the share price on its own, then it would cost them way less.

Secondly, the time taken to arrive at the cut-off price in the book building process is a lot. If the company chooses to fix the price on its own, then it’ll take a fraction of the time.

We regularly come up with such content on the stock markets and finance in general. So subscribe to the channel if you haven’t already.

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Resources for Accountants

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Resources for Accountants

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Resources for Accountants

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