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BESSIEWANG · 2025年05月01日

private company在public市场发debt也不行吗?

NO.PZ2023123001000002

问题如下:

Thunder Corporation is a small household products company privately held by its original shareholders, none of whom are employed by the company. Thunder’s senior management has managed operations for the past decade and expects to remain in that capacity after any sale. The company has no access to public debt markets. The least likely source of differences in valuing Thunder compared with valuing a publicly traded company is:

选项:

A.

access to public debt markets

B.

principal-agent issues

C.

company size

解释:

Thunder’s size and lack of access to public debt markets are potential factors affecting its valuation compared with a public company. Given the separation of ownership and control at Thunder similar to that at public companies, however, principal-agent issues are not a distinguishing factor in its valuation.

股票和债券都不能Public吗?

1 个答案

王园圆_品职助教 · 2025年05月02日

同学你好,不能

因为债权投资者是比股权投资者更风险厌恶的人。所以一个非上市公司,如果想要获得资金,最好的方法一定是找那些更愿意冒险的投资者把股份给他们从而换取资金,此时的债权人由于非上市公司风险过高,是根本不可能考虑投资的

只有当这个非上市公司有一天上市了,获得市场认可了,这时候债权人才有可能开始愿意以一个教为合理的价格把钱借给公司

或者你可以看看现实生活就好理解了,一般市场上都是私募股权基金,啥时候有私募的非上市公司的债权基金的,就是因为非上市公司是几乎不可能获得债权人投资的