This article has multiple issues. Please help improve it or discuss these issues on the talk page. It is written like a personal reflection or essay rather than an encyclopedic description of the subject. Tagged since December 2009. It may not represent a worldwide view of the subject. Tagged since August 2010. Its lead section may not adequately summarize its contents. Please consider expanding the lead to provide an accessible overview of the article's key points. Tagged since June 2011.

An initial public offering (IPO) or stock market launch, is the first sale of stock by a company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises. Many companies that undertake an IPO also request the assistance of an investment banking firm acting in the capacity of an underwriter to help them correctly assess the value of their shares, that is, the share price (IPO Initial Public Offerings, 2011).

History[link]

This section requires expansion.

In 1602, the Dutch East India Company was the first company in the world to issue stocks and bonds in an initial public offering.^[1]

Reasons for listing[link]

When a company lists its securities on a public exchange, the money paid by investors for the newly issued shares goes directly to the company (in contrast to a later trade of shares on the exchange, where the money passes between investors). An IPO, therefore, allows a company to tap a wide pool of investors to provide itself with capital for future growth, repayment of debt or working capital. A company selling common shares is never required to repay the capital to investors.

Once a company is listed, it is able to issue additional common shares via a secondary offering, thereby again providing itself with capital for expansion without incurring any debt. This ability to quickly raise large amounts of capital from the market is a key reason many companies seek to go public.

There are several benefits to being a public company, namely:

• Bolstering and diversifying equity base
• Enabling cheaper access to capital
• Exposure, prestige and public image
• Attracting and retaining better management and employees through liquid equity participation
• Facilitating acquisitions
• Creating multiple financing opportunities: equity, convertible debt, cheaper bank loans, etc.

Disadvantages of an IPO[link]

There are several disadvantages to completing an initial public offering, namely:

• Significant legal, accounting and marketing costs
• Ongoing requirement to disclose financial and business information
• Meaningful time, effort and attention required of senior management
• Risk that required funding will not be raised
• Public dissemination of information which may be useful to competitors, suppliers and customers.

Procedure[link]

IPOs generally involve one or more investment banks known as "underwriters". The company offering its shares, called the "issuer", enters a contract with a lead underwriter to sell its shares to the public. The underwriter then approaches investors with offers to sell these shares.

The sale (allocation and pricing) of shares in an IPO may take several forms. Common methods include:

• Best efforts contract
• Firm commitment contract
• All-or-none contract
• Bought deal

A large IPO is usually underwritten by a "syndicate" of investment banks led by one or more major investment banks (lead underwriter). Upon selling the shares, the underwriters keep a commission based on a percentage of the value of the shares sold (called the gross spread). Usually, the lead underwriters, i.e. the underwriters selling the largest proportions of the IPO, take the highest commissions—up to 8% in some cases.

Multinational IPOs may have many syndicates to deal with differing legal requirements in both the issuer's domestic market and other regions. For example, an issuer based in the E.U. may be represented by the main selling syndicate in its domestic market, Europe, in addition to separate syndicates or selling groups for US/Canada and for Asia. Usually, the lead underwriter in the main selling group is also the lead bank in the other selling groups.

Because of the wide array of legal requirements and because it is an expensive process, IPOs typically involve one or more law firms with major practices in securities law, such as the Magic Circle firms of London and the white shoe firms of New York City.

Public offerings are sold to both institutional investors and retail clients of underwriters. A licensed securities salesperson ( Registered Representative in the USA and Canada ) selling shares of a public offering to his clients is paid a commission from their dealer rather than their client. In cases where the salesperson is the client's advisor it is notable that the financial incentives of the advisor and client are not aligned.

In the US sales can only be made through a final prospectus cleared by the Securities and Exchange Commission.

Investment dealers will often initiate research coverage on companies so their Corporate Finance departments and retail divisions can attract and market new issues.

The issuer usually allows the underwriters an option to increase the size of the offering by up to 15% under certain circumstance known as the greenshoe or overallotment option.

Auction[link]

This unreferenced section requires citations to ensure verifiability.

A venture capitalist named Bill Hambrecht has attempted to devise a method that can reduce the inefficient process. He devised a way to issue shares through a Dutch auction as an attempt to minimize the extreme underpricing that underwriters were nurturing. Underwriters, however, have not taken to this strategy very well which is understandable given that auctions are threatening large fees otherwise payable. Though not the first company to use Dutch auction, Google is one established company that went public through the use of auction. Google's share price rose 17% in its first day of trading despite the auction method. Brokers close to the IPO report that the underwriters actively discouraged institutional investors from buying to reduce demand and send the initial price down. The resulting low share price was then used to "illustrate" that auctions generally don't work.

Perception of IPOs can be controversial. For those who view a successful IPO to be one that raises as much money as possible, the IPO was a total failure. For those who view a successful IPO from the kind of investors that eventually gained from the underpricing, the IPO was a complete success. It's important to note that different sets of investors bid in auctions versus the open market—more institutions bid, fewer private individuals bid. Google may be a special case, however, as many individual investors bought the stock based on long-term valuation shortly after it launched its IPO, driving it beyond institutional valuation.

Pricing of IPO[link]

The underpricing of initial public offerings (IPO) has been well documented in different markets (Ibbotson, 1975; Ritter 1984; Levis, 1990; McGuinness, 1992; Drucker and Puri, 2007). While issuers always try to maximize their issue proceeds, the underpricing of IPOs has constituted a serious anomaly in the literature of financial economics. Many financial economists have developed different models to explain the underpricing of IPOs. Some of the models explained it as a consequence of deliberate underpricing by issuers or their agents. In general, smaller issues are observed to be underpriced more than large ones (Ritter, 1984; Ritter, 1991; Levis, 1990).

Historically, some of IPOs both globally and in the United States have been underpriced. The effect of "initial underpricing" an IPO is to generate additional interest in the stock when it first becomes publicly traded. Through flipping, this can lead to significant gains for investors who have been allocated shares of the IPO at the offering price. However, underpricing an IPO results in "money left on the table"—lost capital that could have been raised for the company had the stock been offered at a higher price. One great example of all these factors at play was seen with theglobe.com IPO which helped fuel the IPO mania of the late 90's internet era. Underwritten by Bear Stearns on November 13, 1998, the stock had been priced at $9 per share, and famously jumped 1000% at the opening of trading all the way up to $97, before deflating and closing at $63 after large sell offs from institutions flipping the stock. Although the company did raise about $30 million from the offering it is estimated that with the level of demand for the offering and the volume of trading that took place the company might have left upwards of $200 million on the table.

The danger of overpricing is also an important consideration. If a stock is offered to the public at a higher price than the market will pay, the underwriters may have trouble meeting their commitments to sell shares. Even if they sell all of the issued shares, if the stock falls in value on the first day of trading, it may lose its marketability and hence even more of its value.

Underwriters, therefore, take many factors into consideration when pricing an IPO, and attempt to reach an offering price that is low enough to stimulate interest in the stock, but high enough to raise an adequate amount of capital for the company. The process of determining an optimal price usually involves the underwriters ("syndicate") arranging share purchase commitments from leading institutional investors.

On the other hand, some researchers (e.g. Geoffrey C., and C. Swift, 2009) believe that IPOs are not being under-priced deliberately by issuers and/or underwriters, but the price-rocketing phenomena on issuance days are due to investors' over-reaction (Friesen & Swift, 2009).

Some algorithms to determine underpricing: IPO Underpricing Algorithms

Issue price[link]

A company that is planning an IPO appoints lead managers to help it decide on an appropriate price at which the shares should be issued. There are two ways in which the price of an IPO can be determined: either the company, with the help of its lead managers, fixes a price (fixed price method) or the price is arrived at through the process of book building.

Note: Not all IPOs are eligible for delivery settlement through the DTC system, which would then either require the physical delivery of the stock certificates to the clearing agent bank's custodian, or a delivery versus payment (DVP) arrangement with the selling group brokerage firm.

Quiet period[link]

There are two time windows commonly referred to as "quiet periods" during an IPO's history. The first and the one linked above is the period of time following the filing of the company's S-1 but before SEC staff declare the registration statement effective. During this time, issuers, company insiders, analysts, and other parties are legally restricted in their ability to discuss or promote the upcoming IPO (U.S. Securities and Exchange Commission, 2005).

The other "quiet period" refers to a period of 40 calendar days following an IPO's first day of public trading. During this time, insiders and any underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company. Regulatory changes enacted by the SEC as part of the Global Settlement enlarged the "quiet period" from 25 days to 40 days on July 9, 2002. When the quiet period is over, generally the underwriters will initiate research coverage on the firm. Additionally, the NASDAQ and NYSE have approved a rule mandating a 10-day quiet period after a Secondary Offering and a 15-day quiet period both before and after expiration of a "lock-up agreement" for a securities offering.

Stag profit[link]

Stag profit is a stock market term used to describe a situation before and immediately after a company's Initial public offering (or any new issue of shares). A stag is a party or individual who subscribes to the new issue expecting the price of the stock to rise immediately upon the start of trading. Thus, stag profit is the financial gain accumulated by the party or individual resulting from the value of the shares rising.

For example, one might expect a certain I.T. company to do particularly well and purchase a large volume of their stock or shares before flotation on the stock market. Once the price of the shares has risen to a satisfactory level the person will choose to sell their shares and make a stag profit.

Largest IPOs[link]

1. Agricultural Bank of China US$22.1 billion (2010)^[2]
2. Industrial and Commercial Bank of China US$21.9 billion (2006)^[3]
3. American International Assurance US$20.5 billion (2010)^[4]
4. Visa Inc. US$19.7 billion (2008)^[5]
5. General Motors US$18.15 billion (2010)^[6]
6. Facebook, Inc. US$16 billion (2012)^[7]

Value of IPOs[link]

The US last topped the IPO league tables in 2008; then east overtook west with China (Shanghai, Shenzhen and Hong Kong) raising $73 billion (almost double the amount of money raised on the New York Stock Exchange and Nasdaq combined) up to the end of November 2011. The Hong Kong Stock Exchange raised 30.9 billion in 2011 as the top course for the third year in a row, while New York raised 30.7 billion.^[8]

See also[link]

• Alternative public offering
• Direct public offering
• Equity carve-out
• Mergers and acquisitions (M&A)
• Private placement
• Public offering without listing
• Reverse IPO
• Seasoned equity offering
• SEC Form S-1 (Registration form for certain types of issuers)
• Secondary market offering
• Venture capital

References[link]

Further reading[link]

External links[link]

• Initial Public Offering (IPO) Definition and Calendar, Wikinvest
• How IPO works – HowStuff Works

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Bar Refaeli
Refaeli at the 2008 Cannes film festival
Born	(1985-06-04) 4 June 1985 (age 27) Hod HaSharon, Israel
Occupation	Model, actress
Height	1.74 m (5 ft 8.5 in)[1]
Eye color	Blue[1]
Measurements	89-60-89 (EU) (35C-24-35)[1]
Dress size	6 (US); 36 (EU)[2]
Shoe size	40 (EU);[1] 9 (US)
Manager	Storm Model Management (London) ONE Management (New York City) IMG Models (Paris)
Website
www.barrefaeli.co.il

Bar Refaeli (Hebrew: בר רפאלי‎; born 4 June 1985) is an Israeli model and occasional actress. She was the cover model of the 2009 Sports Illustrated Swimsuit Issue and was voted #1 on Maxim magazine's Hot 100 list of 2012.

Early life[link]

Bar Refaeli was born into an Israeli Jewish family in Hod HaSharon, Israel. Her parents, Rafael and Tzipi, own a horse ranch. Her mother was a successful Israeli model in the 1970s under her maiden name, Tzipi Levine.^[3][4] Refaeli has three brothers. She began a modeling career at the age of eight months, appearing in commercials.^[5] Refaeli had to wear braces in her early years, interrupting her modeling until age 15, when she returned to modeling with the representation of Irene Marie Models.

Career[link]

Modeling career[link]

Refaeli at 18 years old

Refaeli began her modeling career before the age of 8 months for a baby commercial.^[6] By age 15, she was featured in campaigns for the fashion brands Castro and Pilpel, also starring in a commercial for Milky. Refaeli won the title "Model of The Year" in an Israeli beauty contest in 2000.^[7]

Refaeli has appeared in ELLE (France), Maxim, and GQ (Italy). She debuted in the 2007 Sports Illustrated Swimsuit Issue, becoming the first Israeli model to appear in the magazine, posing with rock band Aerosmith.^[8][9] In 2009, Refaeli was the covermodel for the Sports Illustrated Swimsuit Issue.^[10] A photo from the shoot, featuring a bikini-clad Refaeli, was painted on the side of a Boeing 737 in a promotional deal with Southwest Airlines,^[11][12] leading to criticism of Southwest from passengers for using an image they regarded as inappropriately sexual and "offensive to families".^[13] In October of the same year, Refaeli was again embroiled in controversy, when Haredi groups criticised a Tel Aviv billboard campaign in which she appeared semi-nude, alleging that it could "poison" the public.^[14][15] The billboards were subsequently removed.

She has modeled for Subaru, Accessorize,^[16] Brazilian clothing line Besni, Italian jewelry line Marco Bicego, and Rampage. In 2009, she modeled for Garnier International.^[17]

On 5 March 2009, Refaeli received the "World Style Award," presented by the Women's World Awards, for her "natural elegance, sense of style and compassion."^[18] In October of the same year, Refaeli co-hosted Fashionable Istanbul's press conference announcing their October 2009 fashion event, also appearing in its advertising.^[19] Refaeli was voted #42 in 2008, #57 in 2010, and #97 in 2011 in the FHM "100 Sexiest Women" list^[20] and came in first on Maxim's Hot 100 list of 2012.^[21]

Film and television career[link]

Refaeli co-starred in the Israeli TV series Pick Up in 2005. In October 2008, she co-hosted the Bravo special program Tommy Hilfiger Presents Ironic Iconic America,^[22] based on the book Ironic Iconic America written by George Lois. She returned as a program host in 2009, this time for MTV's brief revival of House of Style.^[23]

On 18 January 2011, Refaeli attended the premiere of the English-language movie Session in Israel^[24] in which she starred. Directed by Israeli Haim Bouzaglo, the film is a psychological thriller that tells the story of a manipulative psychologist who becomes obsessed with a new young patient.

She served as a guest judge on cycle four of Germany's Next Topmodel hosted by Heidi Klum.

Business venture[link]

In 2011, Refaeli and Dudi Balsar, an attorney and former model, set up an E-commerce company called Undeez that will sell designer underwear. The company is slated to go online in November 2011.^[25] By November 2011, the company had raised $1 million in venture capital funds.^[26]

Personal life[link]

Previously linked to Baywatch actor David Charvet and Uri El-Natan, Refaeli began a relationship with American actor Leonardo DiCaprio in November 2005 after meeting him at a Las Vegas party thrown for members of U2.^[27] In the course of their trip to Israel in March 2007, the couple met with Israeli president Shimon Peres and visited Refaeli's hometown of Hod HaSharon.^[28] The relationship ended in June 2009.^[29] Numerous reports, however, indicate that, as of early 2010, the romance may have been rekindled.^[30][31][32] In May 2011, it was reported that the couple had ended their romantic relationship, although still remaining friends.^[33]

Her relationship with DiCaprio caused one nationalist Israeli organization to send her a letter, later leaked to the press,^[34] in which she was asked, for the sake of "future generations of Jews", not to marry a "non-Jew", a request similar to the one made, a few years previously, to Israeli Miss World winner Linor Abargil.^[35]

Refaeli confided to L'Isha magazine that she prefers to keep a lower profile – though she is out with DiCaprio much of the time. "I am there for him and I am at all the events," she says. "I just don't walk in hand-in-hand with him. I don't see any reason. I don't need to strike poses with him in front of the cameras. No one needs to know how we kiss."^[36]

Philanthropy/personal causes[link]

Refaeli volunteers for Project Sunshine,^[37] a non-profit organization providing free services and programs for children facing life-threatening illnesses. She has also volunteered for organization Ahava, which has been caring for pets abandoned in Northern Israel during the 2006 Israel-Lebanon conflict.^[38]

Refaeli and film director Shahar Segal have agreed to do a free campaign under the slogan "One Bag Less" to reduce the use of plastic bags.^[39]

In August 2010, she decided to write a special report with the collaboration of Better Place^[40] on why she believes that people should drive electric cars.^[41]

Military enlistment[link]

In 2007, it was reported that Refaeli had married a family acquaintance and divorced him soon after to avoid military service in the Israel Defense Forces,^[42] which is generally mandatory for both men and women over the age of 18.^[43] The Israeli Forum for the Promotion of Equal Share in the Burden threatened to boycott the fashion chain Fox if they hired Refaeli, but the two sides reached a compromise in which Refaeli agreed to visit injured IDF soldiers on visits to Israel and encourage enlistment in the army.^[44] Refaeli later stated, "I don't regret not enlisting, because it paid off big time. That's just the way it is, celebrities have other needs. I hope my case has influenced the army."^[45] In 2009, fellow Israeli model Esti Ginzburg, while speaking in support of enlisting, criticized Refaeli for her avoidance of military service.^[46][47] In 2011, Refaeli was featured on the cover of Italian GQ's war-themed May 2011 issue.^[45]

References[link]

External links[link]

Wikimedia Commons has media related to: Bar Refaeli

• Bar Refaeli at the Fashion Model Directory
• Bar Refaeli at the Internet Movie Database
• Bar Refaeli at AllRovi
• Bar Refaeli Photo Gallery 2009

Professor Jay may also mean Wally Jay.

Joseph Haule (born December 29, 1975), popularly known as Professor Jay, is a Tanzanian hip hop artist. He is one of the prominent representants of the "Bongo Flava" Tanzanian hip hop subgenre, which mixes elements from both Western hip hop and the Tanzanian tradition (including swahili lyrics as well as an activist attitude towards Tanzanian social issues such as HIV/AIDS, wealth, inequality, and political corruption).^[1]

Biography[link]

He started rapping in 1994 as a member of the group Hard Blasters, best known for their hit "Chemsha Bongo" (then he used stage name Nigga J) from their first album, "Funga Kazi". Only one year later, they won the title of best hip-hop group in Tanzania.^[2]

During his solo career which he started in 2001, he has released number of hits, including "Nikusaidiaje" and "Zali la Mentali (feat Juma Nature)". Other songs released by Professor Jay include "Piga Makofi" and "Yataka Moyo".^[3] Just like Mr. II, he is a pioneering Tanzanian MC, who have remained some of the most popular hip hop musicians in Tanzania, despite influx of many new bidders. Also similar to Mr. II his lyrics often have political messages. In one of his songs he imitates an elder politician and ridicules the fake promises they all mindlessly spew as they are trying to get elected. The song continues with a chorus saying the words "Ndio Mzee" which means "Yes Elder". This represents the brain washing of the public as politicians make these false promises over and over. It is interesting to note however, that after this song was produced, the president of Tanzania referenced the lyrics in one of his speeches, which acknowledged the presence of Bongo Flava and the success of Professor Jay's political lyrics.^[4]

His first album, "Machozi, Jasho na Damu," gained instant recognition for which Professor Jay won several awards. He attained other awards such as the best hip-hop album in Tanzania with his second album, "Mapinduzi halisi".^[2]

Professor Jay's songs include Nikusaidiaje (featuring Ferooz), Nimeamini (featuring Lady Jaydee), Inatosha (featuring Sugu), Vuta raha (featuring Ferooz), Border kwa border (featuring Nazizi), Heka heka za star, Interlude, J.O.S.E.P.H., Nisamehe (featuring Banana), Wapi nimakosea, Una, Hakuna Noma, Jina Langu, Bongo Dar Es Salaam, Piga Makofi, Msinitenge, Sio Mzee, Zali la Mentali, Nidivyo Sivyo, Mtazamo (featuring Afande Sele and Solo Thang), Hapo Sawa.^[5] Professor Jay is featured on Nonini's song "Kumekucha" ^[6]

His former group Hard Blasters is set for a comeback in 2009. The new lineup will consist of Professor Jay, Big Willy and Fanani. They will release a new album ^[7]

Solo albums[link]

• Machozi Jasho na Damu 2001
• Mapinduzi Halisi 2003
• J.O.S.E.P.H 2006
• Aluta Continua 2007

Awards[link]

Won[link]

• 2004 Tanzania Music Awards (Kilimanjaro Music Awards)- Best Hip Hop Album ("Mapinduzi Halisi") ^[8]
• 2006 Tanzania Music Awards - Best Song (Nikusaidiaje) ^[9]
• 2006 Kisima Music Awards - Best Tanzanian Song (Nikusaidiaje)^[10]
• 2007 Kisima Music Awards - Best Ugandan Song (Sivyo Ndiviyo with Chameleone) ^[11]
• 2007 Pearl of Africa Music Awards (PAM Awards) - Best Male Artist (Tanzania) ^[12]
• 2009 Tanzania Music Awards - Best Songwriter ^[13]

Nominated[link]

• 2008 MTV Africa Music Awards - Best Hip Hop ^[14]

References[link]

External links[link]

• Swahili Remix
• Bongo Flava

Tui Teka (born 8 March 1937 in Ruatahuna, New Zealand of Tuhoe decent ,^[1] died 23 January 1985 ^[2] ), better known by his stage names "Tui Latui" or Prince Tui Teka was a Māori singer/actor. Teka was a member of the Maori Volcanics Showband before having a successful solo career.

Career[link]

Teka was born in Ruatahuna, New Zealand near Te Urewera. His parents were both musicians, and he learnt to play the guitar and saxophone at a young age.^[3] He moved to Sydney in the early 1950s. In 1959, Teka, Jonny Nicol, and Mat Tenana joined the The Royal Samoans and Maoris. The band was later renamed Prince Tui Latui & The Maori Troubadours. In 1968 he joined Maori Volcanics Showband, touring the Pacific for six years. In 1972 he began his solo career,and returned home releasing two albums; Real Love and Oh Mum,^[4] as well as the Māori love song E Ipo.^[5] In 1974 he met with Noel Tio; both Tui and Noel had known each other since 1958, so Noel Tio Enterprises Pty Ltd. became his Australian (only) manager for 11 years. Before his death in 1985, he was in the German TV series Jack Holborn and starred in New Zealand films Came a Hot Friday and Nate and Hayes.^[6]

Teka died in 1985. His widow, Missy, died in 2008.

References[link]

This article has multiple issues. Please help improve it or discuss these issues on the talk page. The notability of this article's subject is in question. If notability cannot be established, it may be listed for deletion or removed. Tagged since April 2011. Very few or no other articles link to it. Please help introduce links to this page from other articles related to it. Tagged since January 2012.

Noam Zur (born 1981) (Hebrew: נעם צור‎) is an Israeli conductor.

Biography[link]

Educated in Israel, Germany and the USA, Noam Zur studied Music and Philosophy at Tel-Aviv University, graduating in 2002.

Since 2001, Zur has performed in major concert halls and with leading orchestras in Germany, Israel, Switzerland, Austria, France, Estonia, Romania, Scandinavia, and Italy.^[1]

In 2006, Pierre Boulez chose Noam Zur as his assistant as well as consultant and conductor for the Lucerne Festival Academy (2006–2008).^[2]

As part of the European Cultural Capital festivities of Essen, he led the new productions of Henze's Elegie für junge Liebende and a concert version of Bizet's Les pêcheurs de perles. The 2009-2010 season saw him heading the premiere of La Sylphide with the Aalto Ballet Company.

Noam Zur was Principal Resident Conductor at the Aalto Theatre in Essen until August 2010.^[3]

Noam Zur's 2010-2011 engagements included a tour with the Kammerphilharmonie Frankfurt in Israel,^[4] and debuts with the Israel Camerata, Belgrade Philharmonic,^[5] Netania-Kibbutz Chamber Orchestra and the Israel Symphony Orchestra. He also returned to the Wiener Volksoper,^[6] opening their 2010-11 season with Die Fledermaus and during the holiday season for Hänsel und Gretel.

References[link]

1. ^ Haaretz. http://www.haaretz.com/culture/arts-leisure/the-battle-for-the-baton-1.91609. 
2. ^ http://www.haaretz.com/weekend/week-s-end/say-little-and-do-much-1.215098
3. ^ "Aalto Theater Essen". Aalto Theater Essen. http://www.ballett-essen.de/leitung/zur-noam.htm. 
4. ^ City Mouse (Hebrew). http://www.mouse.co.il/CM.articles_item,1021,209,54987,.aspx. 
5. ^ Belgrade Philharmonic Orchestra "Belgrade Philharmonic Orchestra". Belgrade Philharmonic Orchestra. http://www.bgf.rs/index.php?option=com_eventlist&view=details&id=17%3Akoncert&Itemid=541&lang=en&cid=7 Belgrade Philharmonic Orchestra. 
6. ^ "Wiener Volksoper". Volksoper Wien. http://www.volksoper.at/Content.Node2/home/ensemble/108231.php. 

Chautauqua Festival 2012

Bucharest National Opera - Debut performance

External links[link]

Official website