The Birth of a Share

Abstract

Having provided an overview of corporate banking practices, we now follow the gradual realization of a project that resulted in the birth of Dolly Ltd. Involving two major Scandinavian investment banks and combining a merger, a spin-off and an initial public offering (IPO), project Dolly is an unusually suitable case for tracing the activities of corporate banking. This case study, which offers a good fit with cursory descriptions of securities offerings processes (Wilhelm, 1999), allows us to follow at close range many of the practices identified in Chapter 6. Due to confidentiality issues, the identities of the involved corporations have been masked, as has the industry to which they belong. Drawing on this case and the insights from Chapter 6, we conclude by expanding our discussion on how corporate banking practices construct share identities. Let us enter into the nursery of the financial markets!