Alternative Initial Public Offering Models

The Law and Economics Pertaining of Shell Company Listings on German Capital Markets

by Axel Moeller

Book cover: Alternative Initial Public Offering Models

Extent: 112 pages

Publisher: Mohr Siebeck

Subjects: Law

Series: Studien zum ausländischen und internationalen Privatrecht

Series volume number: 368

Language: English

Paperback (Published)

(January 2017)

ISBN: 9783161538940

6.06 x 9.06 inches

Price: $68.00

In stock

The continuous search for improved methods of public equity financing has resulted in the derivation of alternative models for listing companies on stock exchanges through so-called shell companies. Since such an entity has no operations of its own, its sole purpose is to find an operating company it can ultimately be merged with through the use of proceeds acquired from the initial shell listing. Axel Moeller seeks to answer the questions pertaining to the practical implementation of such alternative listing models in Germany from a law and economics perspective. In light of the fact that a legal framework with regard to shell listings does not exist, the underlying legal analysis is based on the accumulation of general principles derived from German business and capital markets law. From an economic and financial perspective, the ensuing analysis demonstrates the potential efficiency gains of a shell listing for small and medium-sized German enterprises.

  • By (author) Axel Moeller