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Standard Chartered PLC: Riding the Market During Corporate Restructuring
Weina Zhang; Ruth S.K. Tan; Zsuzsa R. HuszarCase IVEY-9B18N004-EFinance, StrategyIn early 2014, Standard Chartered PLC, a British multinational banking and financial services company headquartered in London, England, announced its restructuring plan. The announcement triggered positive reactions in both stock and bond markets. Nevertheless, the eventual profitability was not what was expected. Moving forward into 2015, how would a rational investor have taken advantage of such a corporate restructuring event?Starting at €8.20
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CapitaMalls Asia: A Buyout Offer from CapitaLand
Ruth S.K. Tan; Zsuzsa R. Huszar; Weina Zhang; Shao Yu HongExercise IVEY-9B19N012-EFinance, StrategyOn April 14, 2014, CapitaLand Limited, a Singapore-based real estate company, launched a voluntary conditional cash offer of SG$2.22 for each share (SG$3.06 billion in total) of its subsidiary commercial property development and management company, CapitaMalls Asia Limited (CMA). CMA’s principal business strategy was to invest in, develop, and manage a diversified portfolio of real estate used primarily for retail purposes in Asia. CapitaLand’s o...Starting at €8.20
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Kimly Limited: Initial Public Offering
Ruth S.K. Tan; Zsuzsa R. Huszar; Weina Zhang; Ling YueExercise IVEY-9B18N026-EFinanceOn March 8, 2017, Singapore-based food outlet operator Kimly Limited (Kimly) announced its intention to go for an initial public offering (IPO). Through this IPO, it aimed to raise SG$43.5 million. Altogether, 173.8 million new shares would be issued at SStarting at €8.20
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Super Group: Acquisition and Delisting from the Singapore Exchange
Ruth S.K. Tan; Allaudeen Hameed; Weina Zhang; Zsuzsa R. HuszarCase IVEY-9B20N033-EEntrepreneurship, Finance, StrategyOn November 3, 2016, Jacobs Douwe Egberts (JDE) launched a bid for Singapore-based food and beverage company Super Group Ltd. (Super). JDE had already acquired 60 per cent of the shares but needed another 30 per cent in order to delist the company and takStarting at €8.20
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The Future of the Israeli Innovation Ecosystem (Spanish version)
Ofek, Elie; Eiran, MargotCase HBS-518S16EntrepreneurshipIn June 2016, Benjamin (Bibi) Netanyahu, Prime Minister of Israel, wrestled with how to sustain Israel's strong innovation track record and the country's reputation as the 'startup nation.' Despite the economic miracle the country had wrought since its founding, he knew he could not be complacent. On the one hand, in 2015 Israeli start-ups raised record-breaking amounts of venture capital, and exits for the year totaled over $8 Billion. On the ot...Starting at €8.20
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Standard Chartered Bank: Valuation and Capital Structure
Ruth S.K. Tan; Zsuzsa R. Huszar; Weina ZhangCase IVEY-9B15N030-EFinance, StrategyFollowing a turbulent 2014 for Standard Chartered Bank, the bank’s largest shareholder, Temasek Holdings, began showing indications that it was seriously considering offloading at least a portion of its massive shareholdings in Standard Chartered Bank. This case seeks to provide a fair valuation of Standard Chartered Bank’s intrinsic value, as well as rationalize the most appropriate way for Standard Chartered Bank to raise funds to satisfy the h...Starting at €8.20
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From Start-Up to Grown-Up Nation: The Future of the Israeli Innovation Ecosystem (Abridged)
Ofek, Elie; Eiran, MargotCase HBS-517103-EMarketingIn June 2016, Benjamin (Bibi) Netanyahu, Prime Minister of Israel, wrestled with how to sustain Israel's strong innovation track record and the country's reputation as the "start-up nation." Despite the economic miracle the country had wrought since its founding, he knew he could not be complacent. On the one hand, in 2015 Israeli start-ups raised record-breaking amounts of venture capital, and exits for the year totaled over $8 billion. On the o...Starting at €8.20
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BreezoMeter: Making Air Pollution Data Actionable
Cespedes, Frank V.; Ciechanover, Allison M.; Eiran, MargotCase HBS-819058-EEntrepreneurshipIsrael-based startup providing actionable air pollution data wrestles with which markets and customers to focus on.Starting at €8.20
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HTL International: Buyout Offer with a Profit Guarantee
Ruth S.K. Tan; Zsuzsa R. Huszar; Weina Zhang; Chee Kiong ChngExercise IVEY-9B19N019-EEntrepreneurship, Finance, StrategyOn February 24, 2016, HTL International Holdings Ltd (HTL), a Singapore-based furniture company, announced that it had entered into a purchase agreement with Guangdong Yihua Timber Industry Co. Ltd (Yihua). According to the agreement, which was subject toStarting at €8.20
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Tiger Airways: Buyout Offer from Singapore International Airlines
Ruth S.K. Tan; Zsuzsa R. Huszar; Weina ZhangCase IVEY-9B16N070-EFinance, StrategyIn January of 2016, Singapore International Airlines Group (SIA) announced that it had secured more than 90 per cent stake in Tiger Airways Holdings Limited (Tigerair), and would take Tigerair private. Once the buyout offer closed on February 19, trading in Tigerair’s shares would be suspended because the free float had fallen below the minimum 10 per cent threshold. Tigerair had been suffering losses amounting to more than SG$600 million from 20...Starting at €8.20