The strategic decision of going public : a case study for an optical frame manufacturer in Hong Kong

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The strategic decision of going public : a case study for an optical frame manufacturer in Hong Kong

 

Author: Tsang, Fan-chung Conway
Title: The strategic decision of going public : a case study for an optical frame manufacturer in Hong Kong
Degree: M.B.A.
Year: 1994
Subject: Going public (Securities) -- China -- Hong Kong
Hong Kong Polytechnic -- Dissertations
Department: Dept. of Management
Pages: x, 127 leaves : ill. ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1152500
URI: http://theses.lib.polyu.edu.hk/handle/200/3989
Abstract: Golden Crown Optical Ltd. is a fast growing private optical frames manufacturer in Hong Kong. Recently, the company has worked out an aggressive business plan for next three years which require additional capital. The aim of this project is to determining the possibility to go public as a new capital source for the company. "Going Public" or "Public Flotation" is a common commercial activity in modern business world. Its major function is helping a private company to obtain equity finance from the public. Besides the financial consideration, however, a successful public flotation process requires understanding of other strategic factors such as business potential, management capability, and commitment from the owner managers. Besides the background information, the writer has also collected additional material through desk research and personal interviews. The data collected were analyzed and interpreted in the light of M. Porter's well established strategic models. The "Five Forces" framework has been used to identify the threats and opportunities in the industry. On the other hand, internal management strengths and weaknesses has been examined by using the "Value Chain" framework. Since public flotation is a business activity concerning the public interest, the basic qualifications such as listing requirements are have been studied. It is concluded that public flotation should be a long-term goal to the owner manager of GC. However, internal managerial weaknesses prevents the company acquiring a listing position at the moment. Nevertheless, organization weaknesses can be put right and effort should not be spared.

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