Market value.
Though it's not cash.
But.
Ultimately, it's valuable assets. A great benefit of a company going public is that post-listing, its stocks can be pledged at market value.
This point.
Makes countless companies scramble to go public.
Generally, companies can pledge equity, but their valuation is cumbersome, almost always based on the discount estimation of existing assets.
Calculated.
Far less than the 'value inflation' post-listing; many companies have assets worth one billion, but post-listing, market value might soar to five billion.
Even up to ten billion.
The difference among them.
Is too large.
Too tempting.
Causing many companies to flock towards it.
Dragging.
Many started talking about Hummingbird.
"I wonder how soon Hummingbird will go public? Owing so much debt to the bank, it should go public for financing, strongly urging Hummingbird to list quickly."
"I agree!"
"Hummingbird owes so much money, it should go public to cash in."
"Exactly."
