###ANSWER ALL 4 PARTS AND GIVE DETAIED EXPLANATION OF EACH PLEASE

How corporations issue securities

a) Describe how a company will attempt to raise capital through an Initial Public Offering. You should include all aspects of the involvement by an investment bank, including the underwriting arrangements. Consider all costs that are involved, including the impact of under-pricing. (10 Marks)

b) Explain how the venture capital industry operates. Identify the type of firm that is likely to attract venture capitalists, and explain how they normally expect to generate a profit. Compare the return on investment with that from other investment categories.

c) Describe an Initial Public Offering. You should consider all aspects of the involvement of an investment bank, including the underwriting arrangements. Conclude with an overview of all of related costs, and with a brief discussion on the motivation for IPOs.

d) Describe the procedure when a company decides to seek a stock market listing, and to raise capital by an Initial Public Offering. You should include all aspects of the involvement by an investment bank. Consider all costs that are involved, including the impact of under-pricing. (10 Marks)