SECTION B - ANSWERS TO BE HANDED IN AT THE BEGINNING OF THE TUTORIAL PLEASE REMEMBER TO MAKE A PHOTOCOPY OF YOUR ANSWER AS YOUR ORIGINAL ANSWER WILL BE RETAINED BY THE TUTOR . REMEMBER ALSO THAT ALL ANSWERS MUST BE HAND WRITTEN . Mini - Case Study : Kina Securities Limited In June 2015 Kina Securities Itd - a financial services provider based in Papua New Guinea - lodged a prospectus relating to the floating and then joint listing of its shares on the Australia Securities Exchange ( ASX) and the Port Moresby Stock Exchange ( POMSOX ) . The company listed on 30 July 2015 . In order to answer the following questions - you will also need to access the following* information :" An excerpt of the prospectus for the IPO which is available on the IMS ( the full* prospectus is also available at http : / / investors . kind . com . pe / investors / ) . Closing share price data which is readily available at Google Finance ( https : / / www . google . com / finance ) . The code for the shares in Kina traded on the ASX* is KSL . AX and historical share prices are accessible via the menu on the left of the screen Answer all of the following questions assuming an investment in the AS> listed security ( a ) What is the subscription price of this offer ?! ( b ) What is ( are ) the purpose ( s ) of the offer ? ( C ) Who or what is Fu Shan ?" ( d ) What does it mean when a prospectus states that shares held by significant shareholders will be " subject to voluntary escrow arrangements " ? Why might a potential subscriber to the Kina IPO be interested in this information ?" ( e ) Looking at the share price information ( accessible via Google finance using the securities code KSL . AX) is there any evidence that this IPO was initially underpriced ?" ( I ) What was the return on KSI shares in the 6 months after listing ( i.e . from close of trade on 30 July 2015 to close on 29 January 2016 ) ? Would you rate this as over-performance , underperformance or are you unable to say ?* ( 8) How did the market perform over this same period ( the code for the broad -based market index the ASX 200 is *JO ) ? Does your answer to ( I) now change ?" ( h ) What does your approach in part ( 8 ) implicitly assume about the risk profile of Kina Securities ?" Can you suggest an alternative benchmark ?"