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  • Getting ready to public floatation (IPO)

Getting ready to public floatation (IPO)


We assist our clients in attracting financing, including through public offering, for many years. Initial public offering is a reliable solution for the rapidly developing private companies.

How do we prepare for the IPO and what do we do in that process?
Short report – gives general information about the company for quick assessment of its investment attractiveness. It includes 12 pages and comes as a list of reports during three-year period of the company operating activities.

Main steps during the report preparation:
•    Use of the legislation-based reports in order to form the draft report.
•    Meeting with auditors and checking their documentation.
•    Finalizing audit reports.
•    Adjustments aimed at reaching consistency with the audit policy.

Detailed report includes 70 pages of financial information about the company. It comprises history of the company, areas of activity, analysis of competitive environment, SWOT-analysis, profitability trends and forecast, information on assets and liabilities, productiveness, basic accounting policies, taxes, etc.

Main steps during the report preparation:
•    Request for information (list).
•    Joint work with 2-3 auditors during 2-4 weeks.
•    Working out preliminary draft (auditors work in home-office) during a longer period of time.
•    Discussing the results with the company’s management.

Report on working capital includes some 30 pages. It comprises comments and criticism about expectations and demands in business financing, and also forecast of the financing results. It also includes review of the projects that took place for the last 18 months; check of preliminary forecast precision; description of preparation method; main assumptions used; short description of available confirmed financing mechanisms; analysis of the company’s exposure and sensitivity to market conditions.

Main steps during report preparation:
•    Thorough examination of budgets for prior periods.
•    Examination (in some cases - forming) of financial model.
•    Examination (in some cases - documenting) of income, presumable expenses, cash flow.
•    4. Examination of respective sensitivity (exposure) to market conditions.
•    Credit program confirmation.

Actions of the company’s management, hastening the process of documentation preparation for IPO
•    Prior planning.
•    Setting realistic work schedule.
•    Securing the process of initial stock offering by internal resources.
•    Well-organized documentation.
•    Forming a team, comfortable cooperate with in tough conditions.
•    Supporting positive productivity during the whole period of the work under the schedule.

Alternative investment market (AIМ)
AIМ – is a London Stock Exchange created especially for young and developing companies world wide. Since its creation in 1995, more than 1600 companies have used the AIM. There have been realized shares for more than 30 billion USD. General market capitalization of the companies, listed at AIM, exceed 70 billion USD.

OUR work experience
•    2003 Ukrainian-Canadian enterprise «Rigal Petrolium» (oil production and sale) – the company entered London Stock Exchange with its shares.
•    2005 JSC “Ukrprodukt” (milk products production and sale) – financial statements confirmation at the results of 2004.
•    2005 “Sunrise” project – work on Due Diligence.
•    2005: Company «XXI Vek» (construction of fashionable buildings, restaurant business) – performed functions of reporting accountants of the Group’s financial reports.
•    2006-2007 гг.: beginning of work with some companies on the issue of audit for London Stock Exchange.