Dear readers, it has come to my attention that Bagha Industries, helmed by Neverland’s own Lily Bagha, is about to have its initial public offering. (For those unfamiliar with Ms. Baga, you can learn more about her and her company in an editorial from last year). Though Ms. Bagha is a friend to the paper, she declined to comment on the move at this time, leaving us only to speculate as to her reasons. First and foremost, it appears that she might not have any other choice.
Until relatively recently, companies with more than 500 on-record shareholders were required by the SEC to go public, but in 2012 the senate passed legislation raising that cap to 2,000. But the number of Bagha Industries shareholders is just about to rocket past this new magic number, forcing the CEO to make Bagha Industries stock available to the public, or submit to much stricter disclosure rules. It seems the company has grown too much, too fast. This would ordinarily be a good problem to have, but it remains to be seen just how the issuance of public stock will affect the company.
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