Dimitris Constantinou-Shipping Finance - The IPO (Initial public Offering) Journey


Published on

1 Like
  • Be the first to comment

No Downloads
Total Views
On Slideshare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Dimitris Constantinou-Shipping Finance - The IPO (Initial public Offering) Journey

  1. 1. The IPO JourneyEuropean Maritime WeekShipping Finance23 May 2013Dimitris ConstantinouLeader of Ernst & Young Global Shipping Network
  2. 2. The IPO JourneyPage 2Overview► Types of financing► Bank financing► Private equity► Equity markets► IPO Journey
  3. 3. The IPO JourneyPage 3Initial Public Offering (IPO)►A journey of transformation from a successfulprivate company to a successful publiccompany that continually delivers value to itsstakeholders.►The IPO event is a component of the valuejourney and generally lasts 90 to 120 days,whereas the value journey usually begins ayear or two before the IPO and continues wellbeyond it.
  4. 4. The IPO JourneyPage 4IPO Journey A structured and managed processReadiness phaseIPO execution phaseIPO realization phaseBuildingthe rightmanagementandadvisory teamsBuilding yourbusiness andfinancialprocessesandinfrastructureEstablishingcorporatestructureand governanceManaginginvestorrelationsandcommunicationsDeliveringaneffectiveroad showPreparingfor theIPO journeyKeepingyouroptionsopenTimingthemarketAttractingthe rightinvestorsandanalystsDeliveringonyourpromisesRenew/re-create
  5. 5. The IPO JourneyPage 5Benefits► Increased shareholder value► More capital to sustain growth► Increased opportunities forfuture financing► Path to mergers andacquisitions► Increased credibility withpotential customers, suppliersand employees► Enhanced corporate image andincrease employee participationObligations► Keep shareholders informed /meet expectationsBusiness operationsFinancial conditionRisk management► Time and money► Periodic reporting andregulatory compliance► Corporate governanceIPO
  6. 6. The IPO JourneyPage 6IPO Journey Transformation►Organizational change►Leadership and management readiness►Transparency/disclosure►Ownership structure/control►Delivering on promises
  7. 7. The IPO JourneyPage 7EY Shipping IPO ExperienceYear Company Exchange1998 Excel Maritime Carriers AMEX2001 Stelmar Shipping NYSE2001 Tsakos Energy Navigation NYSE2004 Top Tankers NASDAQ2005 Diana Shipping NYSE2005 DryShips NASDAQ2005 Excel Maritime Carriers NYSE2006 Goldenport Holdings LSE (UK)Year Company Exchange2006 Omega Navigation Enterprises NASDAQ2007 Globus Maritime AIM (UK)2007 Hellenic Carriers AIM (UK)2007 Oceanfreight NASDAQ2010 Costamare NYSE2010 Diana Containerships NASDAQ2010 Globus Maritime NASDAQ2011 Ocean Rig NASDAQ
  8. 8. The IPO JourneyPage 8“God must have been a shipowner.He placed the raw materials far from where they wereneeded and covered two thirds of the earth with water.”(Erling Naess Dekker)
  9. 9. The IPO JourneyPage 9Ernst & YoungAssurance | Tax | Transactions | AdvisoryAbout Ernst & YoungErnst & Young is a global leader in assurance, tax,transaction and advisory services. Worldwide, our167,000 people are united by our shared values andan unwavering commitment to quality. We make adifference by helping our people, our clients and ourwider communities achieve their potential.Ernst & Young refers to the global organization ofmember firms of Ernst & Young Global Limited, eachof which is a separate legal entity. Ernst & YoungGlobal Limited, a UK company limited by guarantee,does not provide services to clients. For moreinformation about our organization, please visitwww.ey.com.© 2013 EYGM Limited.All Rights Reserved.This publication contains information in summary form and istherefore intended for general guidance only. It is not intended to be asubstitute for detailed research or the exercise of professionaljudgment. Neither EYGM Limited nor any other member of the globalErnst & Young organization can accept any responsibility for lossoccasioned to any person acting or refraining from action as a resultof any material in this publication. On any specific matter, referenceshould be made to the appropriate advisor.