Ivey Business School (Canada)
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Suntech Power: Competition and Financing in China's Solar Industry
Emir HrnjićCase IVEY-9B15N019-EFinance, StrategyIn 2011, Suntech Power, the world’s largest solar panel manufacturer, found itself in a highly problematic position. Recent developments in the Chinese solar power industry had negatively impacted the company’s operations. As the industry had matured, the demand for Suntech Power’s products had become highly volatile. Changing policy regulations, the ambiguous financial structure of the firm and a shift in consumers’ perceptions of the product we...Starting at €8.20
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Alibaba's Bonds Dilemma: Location, Timing, and Pricing
Emir HrnjićCase IVEY-9B17N001-EFinance, StrategyIn 2014, Alibaba—the Chinese e-commerce giant who, in September 2014, completed the largest initial public offering (IPO) in New York Stock Exchange (NYSE) history—was preparing itself for an additional round of capital fundraising. This time, Alibaba focused its efforts on a new, large bond issue. Its chief executive officer would lead Alibaba’s finance team in meetings with investors in Hong Kong, Singapore, and London to gather information abo...Starting at €8.20
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Emirates Airline: A Billion-dollar Sukuk-Bond Issue
Emir Hrnjić; Harun Kapetanović; David ReebCase IVEY-9B14N002-EFinance, StrategyEmirates Airline (EA) needs to fund the purchase of 30 new A380 aircraft. On March 11, 2013, EA announced plans to issue US$1 billion of Islamic bonds (sukuk) and $750 million of regular bonds. These bonds arguably share similar risks and seniority even though the sukuk bonds sold with a lower implied yield. This difference in pricing for securities with similar default risks seems at odds with conventional finance thinking. Against this backdrop...Starting at €8.20
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Toyota's Innovative Share Issue (2015)
Emir HrnjićCase IVEY-9B16N008-EFinance, StrategyIn June 2015, the Toyota Motor Corporation’s annual shareholders’ meeting included a proposal regarding Toyota’s new share issue. Named “Model AA” shares after the company’s first passenger car, the shares would offer investors new hybrid securities. This proposal created a lot of controversy among existing shareholders. Although President Toyoda claimed that no one would be disadvantaged by these shares, it remained unclear how many shareholders...Starting at €8.20
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Finolex: Developing an Integrated Corporate Social Responsibility Strategy - Teaching Note
Utkarsh Majmudar; Namrata RanaTeaching Note IVEY-8B17M098-EStrategyTeaching note for product 9B17M098.Starting at €0.00
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Dalmia Bharat: Social Return on Investment - Teaching Note
Utkarsh Majmudar; Namrata RanaTeaching Note IVEY-8B17M165-EStrategyTeaching note for product 9B17M165.Starting at €0.00
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Toyota Kirloskar Motors: Evaluating a CSR Project - Teaching Note
Utkarsh Majmudar; Namrata RanaTeaching Note IVEY-8B19M043-EStrategyTeaching note for product 9B19M043.Starting at €0.00
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Aramco’s Privatization and IPO Dilemma: Timing and Valuation
Emir HrnjićCase IVEY-9B20N031-EFinance, StrategyIn November 2019, Saudi Arabia’s government officials and advisers had to decide whether or not to proceed with a plan to make the government-owned Saudi Arabian Oil Company (Aramco) a private company and list it on a stock exchange. At the time, Aramco wStarting at €8.20
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Birla Cellulose: Spearheading Sustainable Fashion - Teaching Note
Utkarsh Majmudar; Namrata RanaTeaching Note IVEY-8B20M218-EStrategyTeaching note for product 9B20M218.Starting at €0.00
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Birla Cellulose: Spearheading Sustainable Fashion
Utkarsh Majmudar; Namrata RanaCase IVEY-9B20M218-EStrategyBirla Cellulose, a part of India’s large conglomerate Aditya Birla Group, manufactured viscose fibre, which came from wood and was naturally sustainable. In 2017, the Changing Markets Foundation (CMF) brought out a report titled Dirty Fashion, which descrStarting at €8.20