Exchange Data International (EDI), a
provider of global security corporate actions, pricing and reference data, announced
today the release of a new corporate action
event, Further Public Offering (FPO).
London, 8th June 2017 - The addition of the FPO event enhances existing services by
providing full details of company securities post Initial Public Offering (IPO),
including any additional allocations made available to the deal’s underwriters via
‘greenshoe’ options.
Once
a follow-on or secondary offering is announced, it is essential to understand
the impact on existing shareholder investments. This new event type indicates
the type of offering; whether for new shares, sales of existing shares or a
combination of both. This allows clients to quickly and efficiently determine
the dilution impact on their holding.
FPO
events are tracked from the point of announcement through to closure or
withdrawal with an audit trail following material changes of the offering such
as offer price declaration and take up of greenshoe options. Once confirmed effective,
a shares outstanding notice is published to reflect the new total number of
shares as a consequence of the additional securities distributed in the
offering.
“During
1Q 2017, US IPO activity was down 7% from the prior quarter. Meanwhile,
secondary issuance was consistently stronger, up 18% quarter over quarter and
more than 90% year on year,” noted Jonathan Bloch, CEO of Exchange Data
International. “As a result of this
increasing demand, we decided to add the FPO event. Our experts have gathered the
new Further Public Offering data from primary sources, covering 150
international stock exchanges, as well as secondary sources which include
international news agencies.”
The
new event is available in EDI’s Worldwide Corporate Actions, premium feed
service and the web browser.
About Exchange Data International
Exchange
Data International (EDI) helps the global financial and investment community
make informed decisions through the provision of fast, accurate timely and
affordable data reference services. EDI’s extensive content database includes
worldwide equity and fixed income corporate actions, dividends, static
reference data, closing prices and shares outstanding, delivered via data feeds
and the Internet. The firm covers all major markets with special emphasis on
emerging and frontier markets that are Africa, Asia, Far East, Latin America
and Middle East. Headquartered in the United Kingdom, EDI has staff in Canada,
India, Morocco, South Africa and the United States. For more information about
EDI visit www.exchange-data.com.
