What does it mean to be ready for an IPO?
Start the readiness diagnostic
To maximise the value of your company for its IPO, there are several factors to consider:
- Adequate capital structure.
- Regulatory considerations: different listing locations (capital markets) have different IPO rules.
- Strong equity story and track record.
- Effective and efficient financial reporting/data system.
- Governance.
- Taxation.
What will the IPO readiness review include?
Our IPO readiness review spans
Identifying key issues and gaps
- Assessing compliance with the requirements of the chosen market.
- Identifying deal breakers to the planned IPOs.
- Identifying any deficiencies in ability to operate as a successful public company.
Developing a road map
- Planning the remediation.
- Assigning responsibilities.
- Setting forth a timetable for the remediation.
Executing the plan
- Reporting work progress to the BoD.
- Monitoring the effectiveness of the remediation, detecting any watch out the deficiencies filled.
- Garnering support from sponsors and lawyers.
- Helping management to establish the necessary systems and internal policies for IPO.
What approach will we use to provide this service?
We will assist management to build up a steering committee consisting of BoD members and key management personnel
- Interviews and information gathering: We start the process with a workshop for key management personnel and our engagement team members; and initiate IPO benchmarking and public company best practice to the integrated team; initiate discussions to enable agreement on key areas that the engagement team should focus on.
- Analysis and diagnostics: The engagement team will gather additional information through interviews with different functional management teams and review necessary documentation, as well as the source of those documents. This information and data will be used to undertake deep analysis and identify gaps to the benchmark/best practice.
- Communications and reporting: We hold weekly steering group meetings to flag issues and discuss those identified during our Readiness Review work. Real-time communication is employed for a “no-surprise” approach.
- Feedback and agreement on the action plan: Our draft report comprises issues background descriptions, gaps/deficiencies identified, and our proposed remediation; we will also include an indicative timeline for an overall IPO plan and remediation action plan. Our team will provide onsite support to the steering group throughout the process. Our approach is to be with steering group each day, and ensure the BoD is kept informed with regular updates.
