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Considering an IPO?Maximising value on the IPO Journey
Having an experienced adviser to add insight and expertise to your IPO Journey from the very beginning will give you the maximum opportunity for success.
The IPO Journey – maximising your potentialAn IPO is a once in a lifetime opportunity and being well prepared is critical to success. The process is incredibly complex and your IPO journey is likely to take many twists and turns. Anticipation, sound advice and thorough planning will therefore be necessary to meet your listing objective.
Ensuring that the business is being run with a public exit in mind, that the strategy and execution are clear and that the process is well understood are key considerations. Areas such as clarity of business strategy, efficient corporate and tax structuring, corporate governance, external financial reporting and employee incentivisation are all examples of value drivers which will impact the success of your IPO.
Addressing these areas early before the intensity of the IPO process begins will help to ensure that everything runs smoothly, disruption to the business is minimised and the focus is on value enhancement rather than fire fighting. Identifying and fixing problems while there is time will add value, preserve the timetable and avoid a crucial window of opportunity being missed.
Why we are well placed to assist youAcross Deloitte we have a wealth of IPO experience. Our team has travelled this route countless times before and can assist you at every stage of your IPO Journey.
Our team is truly multi-disciplinary, covering corporate finance advisory, audit, transaction services, taxation and other specialists from across the firm. This enables us to provide first class advice, not only on technical issues and matters of process, but also on the wider reaching strategic and commercial considerations that you would expect from an independent financial adviser.
Be ready for the challenges: From when you first consider an IPO to life as a listed company Deloitte can help you execute a successful IPO.
Post IPOCorporate governance
Track record andfinancial reporting
Your journey to IPO
Deloitte as your IPO adviser:
We act as an independent and experienced adviser throughout the IPO process.
We can help to answer the questions raised here as well as many other issues you may encounter.
We have a wealth of IPO experience and understand your attributes and issues and the demands of the market
We will support you from beginning to end, ensuring the most efficient process and helping you maximise the value of your IPO.
We will continue to work with you post-IPO, helping you adjust to the demands of being a public company.
Getting started on the road to IPO
Is an IPO right for you?• What are your growth strategy and capital
requirements?• What are your stakeholders’ objectives?• What alternatives are there?
What is your business strategy?• Do you have a robust and credible business plan?• Does your track record support your plans?• What is the growth potential of your company and
the wider market?• What will you use the IPO proceeds for?
How much is your business worth?• What is your business plan and your view on
value?• How compelling is your strategy?• How can you maximise the value you can achieve
from an IPO?
Where should you IPO?• What is the best market for your business?• Do you meet the requirements for index inclusion?
Do you meet eligibility requirements?• How much equity will you free float?• Do you have a compliant financial track record?
Are there pre IPO strategic considerations?• Is a corporate restructuring required?• Should you sell non-core assets?• What is the optimum timing of potential
When do you want to IPO?• Is there a limited window of opportunity and are
you ready to meet it?• Are there external or internal factors pointing
towards a certain IPO date?• Will timing affect value?
Considering an IPO? Maximising value on the IPO Journey 33
Reaching your IPO destination
How will you market your business?• What are the key selling messages?• How do you present the growth and equity story?• How can you ensure that analysts and investors
understand your business and its potential?
How will you manage the IPO process?• How will the IPO process be run internally?• Do you have sufficient resource and in-house
expertise?• When and how should you draw on your advisers’
How do you select the right advisers?• How do you recruit a good broking team?• How do you ensure you get a good deal from
Are your controls and reporting appropriate?• Is the right information flowing to the Board to
manage the business?• Do you have appropriate financial reporting
procedures in place?• Have you considered the need to comply with
corporate governance rules?
Have you considered taxation?• Will you need to restructure the business for tax
efficiency?• Have you considered the tax impact on
stakeholders?• Are there tax risks/exposures to be addressed pre-
IPO or losses/other tax attributes to be protected?
Are you ready for the key IPO deliverables?• Are you prepared for the key IPO process
deliverables such as: – A track record of financial information in IFRS? – Working capital analysis? – Appropriate Financial Reporting Procedures? – Detailed financial and legal due diligence? – Producing the Prospectus or admission
How prepared are you for after the IPO?• Are you ready for the reporting requirements of a
public company?• Have you considered the need for ongoing analyst
The journey to IPO is complex with many considerations and challenges at every step. Deloitte can advise and support you from the start of your journey to ensure you are prepared for the twists and turns on the road to IPO.
How ready are you to IPO?
• An IPO Readiness Review can act as the first step on your road to IPO. It will establish the key areas that you need to consider and address (from strategy to delivery of financial work streams) so that you are ready and can maximise your opportunity to IPO.
• We can then assist you throughout the process in an IPO Assist role:
– acting as your independent financial adviser, helping in areas such as strategic considerations and independent day to day advice; and
– providing hands-on assistance with project management and specific company driven work streams and documents.
How Deloitte can help you maximise the value of your IPOWith Deloitte as your adviser you have constant access to the whole Deloitte network to help with the anticipated and unanticipated problems that will inevitably arise.
Our team has a wealth of direct experience in successfully preparing companies for an IPO and supporting them as the process unfolds. We deploy skilled teams that take a hands-on approach: from the prompt, clear identification of what needs to be done, advising on every step along the way, through to delivering tangible results.
The combination of our specialised team and our significant capital markets experience gives us confidence that we can deliver the most valuable and cost effective solutions to you to enable a smooth and efficient IPO process.
Are you ready for the IPO Journey?
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John Robarts Partner, Audit Advisory+7 (495) 580 97 01 [email protected]
James Ferguson Partner, Tax & Legal+7 (495) 787 06 00, ext. [email protected]
Matthew Gorman Director, Audit Advisory+7 (495) 787 06 00, ext. [email protected]