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This paper demonstrates that an IPO raised capital is just ANOTHER FINANCIAL / CAPITAL MANAGEMENT TOOL with the following beneficial effects on the strategic objectives and social mission of a microfinance institution:
- bolstering and diversifying equity base;
- enabling cheaper access to stock-market capital;
- ensuring a gain in respect of exposure and prestige;
- attracting and retaining the best management and employees
- creating multiple financing opportunities: equity, convertible debt, cheaper bank loans, etc
- ensuring further institutional development;
- ensuring the achievement of financial performance (operational &amp; financial sustainability) and social mission / poverty alleviation strategic targets: MORE micro-loans at similar/reasonable (but NOT HIGH !!) interest rates, to MORE poor people to support their self-empowerment, while slightly increasing / maintaining the net profit level as before the IPO.
I would appreciate the reader's comments/feed-back, whether pros or cons.