Listing a company on a stock exchange via an Initial Public Offer - IPO (or “flotation”) is a complex, time consuming and strategically important corporate activity.
While not being the only option available to achieve an exit from their investment by shareholders, it remains a popular and desirable objective for many.
However, the choice to gain admission for the trading of a company’s shares on a stock exchange involves extensive work on accounting, legal, and governance issues. Anticipation of the ongoing obligations of companies, post IPO, is also an important element of preparation.
This IPO training course covers the practical aspects of preparation needed for a successful IPO, both in terms of the documentary requirements and the roles and responsibilities of the various advisers involved in the process.
The possible changes to its board of directors and to its accounts by the applicant company are also discussed, together with the need to fulfil “ongoing obligations” post IPO.
Review: IPO timetable. Describing the various elements, and their inter-relationship, that are required for the production of a prospectus together with the responsibilities of the different parties involved.
Review: The Long Form Report. Examining the issues and topics that are covered in a Long Form Report, leading to the production of the working capital adequacy statement and profit forecast.
Review: Recent prospectuses, reviewing the different elements of content and presentation used by different companies.
Review: CalPers Core Corporate Governance Principles. Discussion of the key principles driving market and regulatory practice in respect of corporate governance.
Exercise: Bookbuilding versus tender offer, deciding how and at what price shares will be allotted.