The Search for IPO Alternatives

David Weild and Edward Kim recently produced a report for Grant Thornton, titled IPOs in the ICU. The entire report is available here, but David has permitted us to reprint this conclusion about current and future alternatives to IPOs for private companies: There has been no shortage of effort to find an alternative to an IPO for private U.S. companies. Among these are the NASDAQ Portal Alliance (144A PIPO), InsideVenture and Entrex markets. To date, most of the major U.S. investment banking initiatives have been focused on the 144A PIPO market in efforts to create institutional-only markets for private placements of equity that would be issued to qualified institutional buyers

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