WORKSHOPS

The workshop aims to provide participants with an understanding of the Equity Markets. The program covers the features and characteristics of Equity products, equity issuance, and equity trading platforms as well as provides an introduction to equity valuation.

The workshop is suitable for new entrants to the professional sector and staff who are beginning their career in financial services. The broad topics covered make the workshop suitable for all staff, not just those responsible for making investment decisions, including administration, finance and accounting, IT, customer services, sales and marketing and HR and training.

Certificate of participation issued by the UASA & SCA Professional Training & Examinations Centre.

(05 CPD Hours) [Other topics delivered by SCA]

15:00 - 16:20 Session 1

16:20 - 16:30 Break

16:30 - 17:50 Session 2

17:50 - 18:00 Break

18:00 - 19:00 Session 3

1. Equities Markets 

-Overview of Equity market and its products 

- Characteristics of equity products 

- Stocks 

- Preferred shares 

- Warrants 

- Hybrid Capital 

- Equity linked notes and funds 

2. Equity Issuance 

- Listing equity securities 

Regulatory framework (Regional / international) 

Investor disclosures 

- Structure and stages of an initial public offering (IPO) 

Role of ECM in an initial public offer (IPO) 

Role of intermediaries, book building, pricing 

Benefits for the issuer and investors 

Underwritten versus best efforts 

Oversubscribed issues and green-shoe options 

3. Equity exchanges and trading mechanism 

- Equity exchanges 

- Multilateral Trading Facilities (MTFs) and dark pools 

- Role of exchanges in providing secondary market facilities, platforms 

- How do clients make money-trading equities? Different strategies 

- Equity indices – local and international 

4. Equity valuation 

- Introduction to different valuation methods 

Dividend discount model 

Multiples (comparables) 

Asset based valuation 

DCF valuation - Forecast cash flows for the initial period 

- Defining the Weighted Average Cost of Capital (WACC)