問28
頻出度★★★
AI を開発するベンチャー企業の A 社が, 資金調達を目的に, 金融商品取引所に初めて上場することになった。このように, 企業の未公開の株式を, 新たに公開することを表す用語として, 最も適切なものはどれか。
令和5年度 ITパスポート試験 問28
ストラテジ系経営戦略マネジメント › 経営戦略手法
This question's explanation and your answers so far.
解説
問 28
- ア
正解 IPO in choice ア stands for Initial Public Offering. It is the term for a company that has not previously been listed on a stock exchange offering its previously unlisted shares broadly to investors for the first time and becoming listed on the exchange. This matches exactly the situation in the question, namely newly offering previously unlisted shares, listing on a financial instruments exchange for the first time, and doing so to raise capital, so choice ア is correct.
Incorrectイ
LBO stands for Leveraged Buyout. It is a method of borrowing funds using the target company's assets or the income it will generate in the future as collateral, and then using that borrowed money to acquire the company. It is not the act of newly offering shares to the public, but rather one method of corporate acquisition (M&A), so it is incorrect.
Incorrectウ
TOB stands for Take-Over Bid. It is the act of announcing the purchase period, the number of shares, and the price, and then buying up a company's shares from many unspecified shareholders outside the exchange. Its purpose is to acquire existing shares (a takeover), not to newly offer unlisted shares to the public, so it is incorrect.
Incorrectエ
VC stands for Venture Capital. It refers to an investment company or fund that invests in unlisted venture companies expected to grow rapidly, and earns a profit by selling its stake after the share value rises through events such as a listing. It is a term for the side that provides funds, not a term for the act of newly offering shares to the public, so it is incorrect.
ここがポイント
- IPO (Initial Public Offering) = an unlisted company offering its previously unlisted shares to a wide range of investors for the first time and becoming listed on a stock exchange; its main purposes are raising capital and increasing public recognition.
- Distinguishing easily confused capital and M&A abbreviations: IPO = a new public listing, TOB = acquiring shares through a take-over bid, LBO = an acquisition using borrowed funds, VC = the provider of funds to venture companies.
用語