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TheVad
Amarr
Metalworks
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Posted - 2008.04.09 23:02:00 -
[1]
 Originally by: Kwint Sommer
Shar, even though everyone may bid a different rate, in the end they all get the same rate. Read the example in the wikipedia article I linked to. That makes it a lot more manageable and theoretically makes for more competitive bidding.
Really the only work is figuring out what is the highest accepted interest rate and a simple web applet could handle that. Hint, hint EBANK.
Kwint, all I can say is we some REALLY REALLY cool things comming out in the next 2-3 months.
Project Manager & Chief Editor| www.eve-bank.net
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TheVad
Amarr
Metalworks
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Posted - 2008.04.10 02:46:00 -
[2]
Edited by: TheVad on 10/04/2008 02:48:59
Originally by: Shadarle
To avoid small bids split your total share offering into 5 blocks, 10 blocks, 20 blocks, etc... and then sell them in blocks. This stops someone from taking 666 shares and someone else taking 112, etc. Everyone gets 20% or 10% or 5% or some such of the company, no odd amounts of shares going around.
It also means you just have to count up to that many blocks from the bottom.
See, whoever said this forum doesn't have some useful discussions. We may have just come up with a new method many IPO's use for distributing shares. Or, rather, fine tuned... not come up with. The loan/bond that happened about a month ago was the first to use it and Kwint brought it back into our minds now.
Ohh once in a blue moon something good comes out.  I tend to live by the 80/20 rule. You be surprised what happens when a community works together and supports each other.
Now if we could only rally behind a CSM candidate who can articulate his thoughts well, has vision on what improvements can be made to the industrial and market aspects of the game, I will be impressed. Finding someone who possesses thought leadership, is respected as a consultant by CCP, and has new innovative ideas might be hard to find (but not impossible).
Project Manager & Chief Editor| www.eve-bank.net
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TheVad
Amarr
Metalworks
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Posted - 2008.04.10 03:08:00 -
[3]
Originally by: Kwint Sommer
Originally by: TheVad
Now if we could only rally behind a CSM candidate who...has vision on what improvements can be made to the industrial and market aspects of the game....
Honestly, we need to answer that question for ourselves before we start asking candidates what they're going to do. We've had some discussion about it but I don't recall seeing a spectacular solution to the lack of high-end industrial content. Having NPC's auction off some more T2 BPO's would be nice but by no means a complete solution....
IĈm talking way beyond just current issues/improvements. IĈm talking about making innovation, actually enhancing the market system, capabilities, etc. A thought leader.
http://en.wikipedia.org/wiki/Thought_leader . Just for those not familar with the term.
Project Manager & Chief Editor| www.eve-bank.net
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TheVad
Amarr
Metalworks
|
Posted - 2008.04.10 11:28:00 -
[4]
Edited by: TheVad on 10/04/2008 11:32:28
Originally by: MilowFV
I think she(Selene) was saying that if you had a large IPO and the bids ran over 4 or 5 page with folks making 50 million and 20 million bids that you would reach the point where you have alot of bids to add up and could miss some while doing it. Shardarle idea of limiting the lower limit of how small a bid you could place would limit this though.
Of course it is just going thru a post and adding up number, and when you reach the total looking at what the highest interest rate bid was. I still have to agree with Selene again that if I have folks making lot of bids all at different rates though out that it can get messy. It certainly woudnt be impossible to do, but I still think I would add some limits on the size of bids to just to control the number myself.
Really it just an opinion on what someone considers to be a pain to deal with is all. I dont think I would like to wade thru 5 or more page looking at bids from 10 million to 100 million all at different rates that might be out of order or even higher then the rates above them.
Use something like handy dandy excel spreadsheet.
1) Look at thread list and for each post Plug name in column 1, plug bid in column 2
2) Sort by amount
3) Add calculations or use template which will calculate the final interest rate for you.
4) Post listing so that other people can verify and validate.
Done.
P.S Yes, you could fat finger an amount or name. You might even miss a name. But by posting you should be able to catch any errors. An entry form and a tool would remove the need for double entry and any errors. This could also enable someone to have variations like limiting the total buyer pool to X number of people up front.
Project Manager & Chief Editor| www.eve-bank.net
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TheVad
Amarr
Metalworks
|
Posted - 2008.04.10 12:40:00 -
[5]
Edited by: TheVad on 10/04/2008 12:42:53
An issue has arisen around the fact that an IPO offering should not raising more money then they need. So I am proposing a slight modification:
Using Kwint's example, suppose the sponsor of the issuance is seeking to raise $10 billion for 12 months with a maximum rate (starting) bid of 5.20% and in aggregate the bids are as follows:
John @ $1.0 billion at 5.115%
Jill @ $2.5 billion at 5.120%
Mike@ $3.5 billion at 5.125%
Grant@ $4.5 billion at 5.130%
Susan@ $3.75 billion at 5.135%
Danny@ $2.75 billion at 5.140%
Ron@ $1.50 billion at 5.145%
The interest is set based on the highest interest rate that crosses the 10B threshold. In this case its 5.130% (going from lowest to highest interest rate). Now we have the interest rate set.
John @ $1.0 billion at 5.115%
Jill @ $2.5 billion at 5.120%
Mike@ $3.5 billion at 5.125%
Grant@ $4.5 billion at 5.130%
Then you give shares out in the same order with the set rate of 5.130%
So now:
John will get 1B worth of shares @ 5.130%
Jill with get 2.5 billion worth of shares @ 5.130%
Mike will get 3.5 billion worth of shares @ 5.130%
and...
Grant will only get 3.0 billion worth of shares (out of the 4.5B he bid for)@ 5.130%
Summary
10B worth of shares raised at a competitive rate of 5.130% interest rate for all shares. This allows the issuance to obtain the best interest rate for the 10B he needs to raise. It dosent allow everyone who participated to get shares, but rather the individuals who gave the lowest bid(s) up to the amount needed to be raised.
Project Manager & Chief Editor| www.eve-bank.net
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TheVad
Amarr
Metalworks
|
Posted - 2008.04.10 13:54:00 -
[6]
OpenIPO is an interesting idea as well. See the flash demo. This would require a tool however to administer correctly. Its very similar to what I posted except I avoided the complexities of porta allocation until a tool is created. I award 100% from the lowest up to the highest bid. The highest bid (at which the interest rate is set) usually dosent get all the shares they bid for.
http://www.wrhambrecht.com/ind/auctions/openipo/index.html#
Project Manager & Chief Editor| www.eve-bank.net
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TheVad
Amarr
Metalworks
|
Posted - 2008.04.12 17:17:00 -
[7]
Edited by: TheVad on 12/04/2008 17:23:30
Originally by: Kwint Sommer
Originally by: Mirirar
This is the method that Google used when it went public.
I want to say they used some sort of variation on a Dutch Auction, OpenIPO maybe?
Yes Google among a few other well known companies have used OpenIPO. OpenIPO is starting to gain traction from the old traditional methods.
Google offering Story
http://www.emeraldinsight.com/Insight/viewContentItem.do?contentType=Article&contentId=1650666
Project Manager & Chief Editor| www.eve-bank.net
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