CIBC's IDS Structure Gets FIrst Copycat

Tunick, Britt Erica
February 2004
Investment Dealers' Digest;2/16/2004, Vol. 70 Issue 7, p9
Trade Publication
Reports on the companies that imitated the income depository securities structure of CIBC World Markets Corp. in an initial public offering (IPO) in the United States. Features of the CIBC IPO; Characteristics of IPO that appeal to retail investors; Reasons behind the popularity of the CIBC structure.


Related Articles

  • CIBC Tries To Mix Markets. Tunick, Britt Erica // Investment Dealers' Digest;2/24/2003, Vol. 69 Issue 8, p15 

    Focuses on the business strategies of CIBC World Markets Inc. Details on initial public offering in the U.S. and Canada by CIBC; Efforts of CIBC to circumvent the U.S. tax codes; Other commercial plans of CIBC.

  • LBO Shops Pounce on IDS. MacFadyen, Ken // Investment Dealers' Digest;5/24/2004, Vol. 70 Issue 21, p11 

    Focuses on income depository securities (IDS), a hybrid structure created by CIBC World Markets, which combines the common stock and debt of a business into a solitary unit. Buyout firms' use of income depositary securities (IDS) as exits from their portfolio companies in the U.S; Companies'...

  • Aegerion Seeks $86M IPO For Cholesterol-Lowering Drugs. Morrison, Trista // BioWorld Today;3/22/2007, Vol. 18 Issue 56, p1 

    The article reports on the initial public offering sought by Aegerion Pharmaceuticals Inc. to raise $86 million. The company was able to receive a $115.2 million offering from Chinese firm 3SBio Inc. Lehman Brothers, CIBC World Markets, Thomas Weisel Partners LLC and C.E. Unterberg Towbin are...

  • "Polluting the Waters" On IDS Structure. Tunick, Britt Erica // Investment Dealers' Digest;4/5/2004, Vol. 70 Issue 14, p7 

    Reports that Goldman Sachs & Co. was unable to land any initial public offerings using the Income Depositary Security (IDS) structure that CIBC World Markets introduced in December 2003. Definition of an IDS; Testing of the IDS structure's appeal to investors; Impact of the inclusion of the...

  • Tube City Loan Pulled.  // Bank Loan Report;10/3/2005, Vol. 20 Issue 37, p3 

    Reports that Bear Stearns Cos. Inc. and CIBC World Markets Corp. has pulled a credit facility for Tube City Inc. after Tube City IMS cancelled its initial public offering of income participating securities due to market conditions.

  • Share sales yet to catch up in region.  // MEED: Middle East Economic Digest;11/26/2010, Vol. 54 Issue 48, p7 

    In this article the author reflects upon the importance for the Middle East countries to resolve their debt crisis for reigniting the demand of retail investors for the initial public offerings (IPOs) from these countries.

  • Financings Roundup.  // BioWorld Today;8/31/2007, Vol. 18 Issue 170, p2 

    The article reports that the underwriters for the initial public offering of Sucampo Pharmaceuticals Inc. exercised in full their option to purchase shares which were all sold by a selling stockholder. According to the author, gross proceeds to the company remained at $43.1 million through the...

  • Prada Narrows Range For IPO. SHENG, ELLEN // WWD: Women's Wear Daily;6/17/2011, Vol. 201 Issue 124, p2 

    The article informs that the fashion house Prada has decreased its price range for Initial Public Offering (IPO). According to a person familiar with the situation, the firm is now pricing its shares between 39.50 Hong Kong dollars and 42.25 Hong Kong dollars. It has been stated that the...

  • Do Institutions Receive Favorable Allocations in IPOs with Better Long-Run Returns?  // Journal of Financial & Quantitative Analysis;Dec2006, Vol. 41 Issue 4, p809 

    We analyze allocations to institutional and retail investors in 441 initial public offerings (IPOs). In addition to the well-known favorable first-day returns, we show that institutions also obtain more allocations in IPOs with better long-term performance. We find that initial institutional...


Read the Article


Sign out of this library

Other Topics