1 (5 Marks) Al Hayat company, a public water supply company based in Muscat, which was privatized 3 years ago. As the new Finance Director you are reviewing the draft financial statements which contain the following statement by the chairman. "Al Hayat company has done above average performance in fulfilment of our objective of maximizing shareholder wealth. Also in the profit, dividends and the share price have all shown tremendous growth rate in the last three years. It is our objective to continue to provide strong performance in the future'. The company has recently awarded a major government water project worth 200 million rials by the ministry and the project has to be completed within 2 years. Also the company is planning to expand their business in UAE and Saudi Arabia by the end of next year. The Board of Directors of Al Hayat company has decided in the last annual general meeting to go for Initial Public Offering in the beginning of next year. Required: (a) Identify and explain briefly about any three key stakeholders, other than the shareholders, in a company such as Al Hayat. Also discuss what financial and other objectives the company should aim to follow in order to satisfy each of these stakeholders. (2 marks) (b) You are required to explain briefly about IPO process, also discuss in detail how IPO will help the Al Hayat company for completing their projects and expansion plans in Saudi Arabia and UAE and thereby achieving the maximum wealth for the shareholders. marks) (3