Roadmap to
Case study from Eduson.TV
course

SUCCESSFUL
IPO

Arie Director of Investment Banking,

Kravtchin Bank of Ameri...
important to choose
It is

appropriate time to launch an IPO
e
it is important to choos
Ipo
te time to l aunch an
appropria
try, state of
The important factors are barriers to en
onom...
Prepar ation for IPO

must be started
«long before»
prepar ation for IPO
re»
tarted «Long befo
must be s
1
e entire process takes from 3 months to
Usually, th
y’s
year. It ge...
be prepared

for organizational
expenses
be prepared

s
ational expense
for organiz
mn when
average, a company spends more than $1
On
ancial
preparing to IPO (list...
f
ok up to the experience o
you should lo

successful IPOs
in the current year
perience

e ex
You should look up to th

Of successful

ipos

ear
in the current y

the
ors that operated to the advantage...
oose your book-runner
Ch

thoroughly
choose your book-runn

er

thoroughly
c offering
The organization to be engaged in publi
t bank),
(which is often an inter...
it is important to set
a right IPO amount
it is right to set

a right ipo amount
larger
scale transactions more often attract a
Large. At the same
number of investo...
ect expert opinions
coll

of the company
collect expert opinions
of the company
ment by
vestors highly rate the company assess
In
is managed
tside specialists: how...
Perform the due

diligence
perform the due

diligence
d of its
ity of the company’s business scheme an
Clar
e
structure is not only required for defe...
e management is to meet
th

the investors before
ipo and impress
the management is to mee

t

the investors before
ipo and impress
promotion.
ct contact is crucial for the company’s
Dire
...
ectors should include
The board of dir

an independent director
ould
the board of directors sh

include

or
dependent direct
an in

e company,
A skilled specialist, unconnected with th
a...
take a course

today!
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Eduson.tv - Roadmap to successful IPO

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The tips for going public. A successful investment banker (Arie Kravchin, director at Merrill Lynch) shares his advice on the IPO process.

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Eduson.tv - Roadmap to successful IPO

  1. 1. Roadmap to Case study from Eduson.TV course SUCCESSFUL IPO Arie Director of Investment Banking,
 Kravtchin Bank of America Merrill Lynch
  2. 2. important to choose It is appropriate time to launch an IPO
  3. 3. e it is important to choos Ipo te time to l aunch an appropria try, state of The important factors are barriers to en onomy upon the securities market and the region’s ec e such that it the whole. Sometimes, the conditions ar , in the kes sense to postpone IPO. Foe example ma ilian er of 2013, the management of Azul Braz summ re too s decided that the market conditions we Airline opped ble - Sao Paulo stock exchange index dr unfavora r’s stocks by 18% and the prices of their competito IPO was dropped by 35%. Therefore, the planned postponed for an indefinite term.
  4. 4. Prepar ation for IPO must be started «long before»
  5. 5. prepar ation for IPO re» tarted «Long befo must be s 1 e entire process takes from 3 months to Usually, th y’s year. It generally depends on the compan availability of preparedness level and, above all, on the three years audited financial statements for the last of work.
  6. 6. be prepared for organizational expenses
  7. 7. be prepared s ational expense for organiz mn when average, a company spends more than $1 On ancial preparing to IPO (listing fee, legal and fin begins, consulting, etc.). As soon as stock trading on the expenses become even higher - $1.5 mn new personnel, average (for audit, Board of Directors, PR, etc.).
  8. 8. f ok up to the experience o you should lo successful IPOs in the current year
  9. 9. perience e ex You should look up to th Of successful ipos ear in the current y the ors that operated to the advantage of The fact probably be IPOs when they were launched will most ’ readiness to relevant for your company, too: investors ustry, etc. risk, interest towards your sector of ind
  10. 10. oose your book-runner Ch thoroughly
  11. 11. choose your book-runn er thoroughly c offering The organization to be engaged in publi t bank), (which is often an international investmen relations with should have appropriate experience and demand for tential investors. This will help create a po -runner any’s stock offering. Naturally, the book comp services not at the same time provide the same must to your competitors.
  12. 12. it is important to set a right IPO amount
  13. 13. it is right to set a right ipo amount larger scale transactions more often attract a Large. At the same number of investors, especially big ones nagement and time, it may be more difficult for the ma at the stage of book-runners to create a high demand book building.
  14. 14. ect expert opinions coll of the company
  15. 15. collect expert opinions of the company ment by vestors highly rate the company assess In is managed tside specialists: how well the company ou e IPO ether the business plan is viable, what th and wh itive goals are, whether there are any compet sector is advantages and whether the company’s growing.
  16. 16. Perform the due diligence
  17. 17. perform the due diligence d of its ity of the company’s business scheme an Clar e structure is not only required for defens assets le against tax and other claims. An impeccab e not reputation will attract investors that ar inclined to risk.
  18. 18. e management is to meet th the investors before ipo and impress
  19. 19. the management is to mee t the investors before ipo and impress promotion. ct contact is crucial for the company’s Dire als» of Therefore, you should perform «rehears d thoroughly presentations during the road-show an plan your behavior strategy.
  20. 20. ectors should include The board of dir an independent director
  21. 21. ould the board of directors sh include or dependent direct an in e company, A skilled specialist, unconnected with th areholders, who defends the interests of minority sh mpany in their will attract investors and upvalue the co sometimes es. However, to find a «right» person is ey very hard.
  22. 22. take a course today!
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