Embarking on an initial public offering will be the single most important and visible transaction in the life of your company. We'll guide you every step of the way to help ensure success.
IPO readiness means preparing your business across a wide range of areas, including framing the market opportunity and equity story; modelling your financial track record trends, business risks and expected growth drivers; assessing historic financial information, corporate/tax structure, cyber security environment and potential corporate governance framework – and more.
We’ll give you the full picture – and the support of our dedicated IPO readiness team – to get you into prime position.
Why Grant Thornton
Our IPO readiness service optimises your company’s value by having in place the expected public company characteristics, controls and governance that investors and regulators demand.
Effective planning saves time and cost, maximises chances of success, and lets you to focus on growing the business.
Crucially, you’ll be well positioned to IPO quickly and efficiently when market conditions are favourable, rather than navigating a private-to-public transformation plan ‘in flight’.
What to consider before going public
You'll get the insight and guidance you need to deliver your IPO ambitions.
- What impact do you want to have from going public?
- Will it help the business achieve its objectives in the short, medium and long term?
- What are the objectives of existing shareholders?
- Will an IPO maximise business value compared with a trade sale or private equity investment?
- How is the business performing and how would performance be enhanced should the company go public?
- Are the board, management and shareholders ready for the time commitment and investment involved in the IPO process?
- Understand and articulate the equity story and market positioning
- Establish a strong, balanced board with the necessary commercial, corporate and public company expertise
- Plan resource for IPO process management
- Consider strategic and practical aspects of timing for the IPO
- Realign staff incentives to deliver IPO objectives
Invest in housekeeping and getting the basics right
- A one-day workshop with management attended by subject matter experts from across our service lines
- An opportunity for management to socialise areas of importance in a constructive environment
- Discussion of the company’s equity story, historical and projected financial performance, existing financial controls, valuation aspirations, board and senior management structure, corporate governance, and reward and incentivisation arrangements
- A structured interaction between management and our subject matter experts to gather relevant information, ranging from the internal financial controls environment to corporate governance procedures
- A report detailing a comprehensive analysis of current readiness together with a tailored steps plan to achieving full readiness
- Workstreams discussed with specific service line teams to establish the most suitable way forward
- Implementation of the tailored steps plan based on your preferences, priorities and resources
- Timetable periodically updated to reflect the implementation of required readiness steps
- Help to coordinate and project manage the process, ensuring a smooth transition from the readiness exercise to the IPO transaction
- We’ll work with you to select the most experienced and suitable advisory team for the transaction, avoiding duplication of work already conducted from the IPO readiness exercise
- Framing the market opportunity and equity story, and exploring the choice of and ability to access equity capital markets
- Identifying and modelling your financial track record trends, business risks and expected growth drivers
- Assessing the suitability of your historic financial information and financial reporting
- Considering the adequacy of your financial position and prospects procedures (FPPP) to effectively manage the business in a listed environment
- Understanding your valuation and pricing expectations, and assisting with identifying suitable comparable listed companies and valuation metrics
- Assessing and subsequently developing a public company-ready corporate governance framework, appropriate to the size, scale and nature of your business
- Reviewing your cyber security environment and how effectively this protects the business
- Reviewing your corporate/tax structure and executive incentive schemes
- Identifying appropriate resource – internally or externally – to execute the transaction as efficiently and effectively as possible