IPO e RTO: il processo, vantaggi e svantaggi

The essay is about the processes of Initial Public Offering and of Reverse Takeover. After introducing what are the main reasons why a company may wish to become publicly traded, the focus goes to the process, the benefits and the drawbacks of both, comparing them. On one hand, concerning IPOs, the essay analyses the role of management in the process, the risks for the company and for the investors, the Securities and Exchange Commission, the role of the underwriters, the process, the underpricing of IPOs, and the advantages and disadvantages; lastly it focuses on Google's IPO as an example of a company which went public through the IPO process. On the other hand, concerning RTOs, the essay looks at the analysis of the shell corporation, the process, the advantages and disadvantages, and lastly focuses on a company which in turn has gone public though the process of Reverse Takeover: Pacific Rubiales Energy Corp. It is a petroleum exploration and production company in the business of exploring and producing heavy crude oil and natural gas, listed on the Toronto Stock Exchange, of which the essay makes an analysis in terms of history and the listing period. Lastly some conclusions are made about whether IPO or RTO are the best choice in going public, and why.