個案總覽

As the Republic of Indonesia, the largest archipelagic nation in the world, was facing significant challenges posed by climate change, the imperative for immediate attention to the region’s climate issues became evident. Indeed, between 2018 and 2020, Indonesia issued three green sukuks, which were Shariah law-compliant debt instruments resembling green bonds. This case explores the specific approach taken by the Indonesian government to secure vital funding for initiatives aimed at mitigating and adapting to climate change in sectors including energy efficiency, renewable energy, resilience to climate change, sustainable transport, and waste and waste-to-energy management. The case also evaluates critical inquiries into the efficacy of the projects funded by the proceeds of green sukuk issuances in combating climate change.

Instructor Spreadsheet to accompany product W37568.

Student Spreadsheet to accompany product W37567.

Spreadsheet for product 8B18N026.

Spreadsheet for product 9B18N026.

On March 8, 2017, Singapore-based food outlet operator Kimly Limited (Kimly) announced its intention to go for an initial public offering (IPO). Through this IPO, it aimed to raise SG$43.5 million. Altogether, 173.8 million new shares would be issued at SG$0.25 per share, comprising a retail tranche of 3.8 million shares and a placement tranche of 170 million shares. The chances of successfully getting Kimly’s IPO shares were slim, given the small retail tranche. In addition, the controlling shareholder and other key shareholders were subject to lock-up periods, which would prevent a short-term overhang of the shares. These factors implied that the supply of Kimly’s shares would be scarce in the initial six months after the IPO, which could have a positive impact on the share price. A retail investor, drawn to the issue because of Kimly’s identity as a family firm, applied for the IPO and was also considering purchasing shares in the aftermarket later in March. Was this a worthwhile investment, and if so, what should this investor’s maximum price be? Should such an investor plan to sell immediately or hold for the long term?

On March 8, 2017, Singapore-based food outlet operator Kimly Limited (Kimly) announced its intention to go for an initial public offering (IPO). Through this IPO, it aimed to raise SG$43.5 million. Altogether, 173.8 million new shares would be issued at SG$0.25 per share, comprising a retail tranche of 3.8 million shares and a placement tranche of 170 million shares. The chances of successfully getting Kimly's IPO shares were slim, given the small retail tranche. In addition, the controlling shareholder and other key shareholders were subject to lock-up periods, which would prevent a short-term overhang of the shares. These factors implied that the supply of Kimly's shares would be scarce in the initial six months after the IPO, which could have a positive impact on the share price. A retail investor, drawn to the issue because of Kimly's identity as a family firm, applied for the IPO and was also considering purchasing shares in the aftermarket later in March. Was this a worthwhile investment, and if so, what should this investor's maximum price be? Should such an investor plan to sell immediately or hold for the long term?

Student spreadsheet for case W18790