IPO de Facebook
Muy buenas razones para no entrarle a FB:
[…] we know that the objective of Facebook’s IPO is not to raise funds to finance investments or repay debts. The firm is trying to create a liquid market for its employees, who are until now in possession of a very valuable asset which they cannot easily sell. Moreover, Facebook intends – after covering the tax liabilities arising from the conversion of stock options by Zuckerberg and colleagues – to keep most of the proceeds from the IPO in cash
Secondly, creating a public market for inside shares may seem like a reasonable pursuit. Yet, there is a catch. Facebook has two share classes, A and B. Only A shares will be sold, but B shares are entitled to ten votes while A shares are entitled to one. After the IPO there will be about 117 million class-A shares, and 1,759 million class-B shares. Therefore, Facebook is selling a maximum of 6.2 per cent of the cash flow rights, and 0.66 per cent of the voting rights!
El artículo completo, aquí.