Last year, UK companies raised just £1.3bn in new equity, net of buy backs and acquisitions. Over the past month, Nat Rothschild and Tony Hayward raised the same amount by selling shares in Vallares, their new investment vehicle. What makes this all the more remarkable is that the company, as the prospectus coyly acknowledges, is a newly formed entity with no operating history, no revenues and no basis on which to evaluate its ability to achieve its objectives.
不计回购和收购,去年全年英国企业仅募得13亿英镑新股本。可就在过去一个月,纳特•罗斯柴尔德(Nat Rothschild)与唐熙华(Tony Hayward)就通过发售二人新投资公司Vallares的股票,募得同样多的资金。令这一成就显得更加不同寻常的是,这家公司是新组建的,没有任何运营经历,没有收入,也没有任何可依赖的指标供投资者评估它是否有能力实现运营目标——它的招股说明书含糊其辞地承认了这一切。