Make Good Investment Decisions - Build Your Business Empire
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Australian Business Forum helps Australian SMEs and businesses to understand the Chinese market and refine their China strategy. http://abf.events/ ABOUT THE PRESENTATION "做好投资决策, 建立你的商业帝国" Presented by Boyd Peters, CEO of InvComs Boyd has a 20 year track record of growing fund managers and expanding their footprint in both the listed and unlisted space. Now Boyd helps Chinese companies list on the ASX and evaluate their distribution opportunities in Australia. Presented at the Fortune Forum 2015 Australian Summit in English.
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Make Good Investment Decisions - Build Your Business Empire
- 2. IPO IPO Manager “The director” Lawyer ASX, ASIC Accountant/ Auditor Stock Broker Financial Planner Investor Media Marketing person Website, Prospectus, Media, publicity 2
- 3. Speakers 1. Boyd Peters: Chairman of Investment Company Services 2. James Gerraty: Head of Australian Stock Exchange Listings 3. Bill Fuggle: Principal at Baker and McKenzie 4. Greg Ellis: Partner of Corporate Finance at BDO 3
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- 7. 金融机构的透明度 • 澳大利亚在维持金融稳定、提高监管效率方面，被认为是 世界上最好的之一。 • 在金融机构的透明度这个问题上，在瑞士洛桑管理学院 （IMD）2010年世界竞争力年度的调查报告中澳大利亚排 名第七。 • 此外，澳大利亚在重视金融领域的风险程度方面排名世界 第四，并在有效监管金融和银行业方面排名世界第九。 资料来源：瑞士洛桑管理学院（IMD）2010年世界竞争力年度报告，www.imd.ch/wcy 7
- 8. 澳大利亚的投资环境 8 遵约委员会 独立委员会 独立核数师 ASX ASIC 澳大利亚政府/ FIRB 保管人 负责实体 (RE) 投诉解决方案 股份登记 澳大利亚税务局 您可以有信心
- 9. Why IPO? Access a new source of Capital Prestige Grow your company 9
- 10. Why IPO in Australia • Mature capital market • Financial Transparency • Same time zone • Unable to IPO in Hong Kong, Shanghai & Singapore • Wonderful place to live, visit and work • Stepping stone to USA listing
- 11. Choice of 3 stocks exchanges 1. National Stock Exchange (NSX) 2. Australian Pacific Exchange (APX) 3. Australian Securities Exchange (ASX) 11
- 12. Recently listed on ASX
- 13. Currently in IPO
- 14. Currently in IPO
- 15. The competition
- 16. Take your time and plan well in advance Have good business partners- lawyer, accountant, broker Have an IPO director- the marketing person. Have Australians on the Board Overcome issues of trust brokers have Price it cheaply- it will go up after listing Build a quality website Have investors and shareholders organised before lodge prospectus The rules for a successful IPO
- 17. Ring Loud! Ring Long!
- 18. 欢迎连接
Editor's Notes
- Make good investment decisions Build your business empire The words I will be speaking are those in BOLD and Italic Ladies and Gentlemen, honourable guests, welcome to Day three of the Fortune Forum 2015 My name is Boyd Peters and I will be your moderator for the morning session where we will explore growing your business empire by listing on the Australian Securities Exchange (ASX)
- This morning’s sessions will explore the mechanics of Listing a company on the Australian Stock Exchange (ASX). This is called an IPO- Initial Public Offering. In the last few years around 20 Chinese companies have listed on the ASX. They do this to access a new source of capital and grow their business An IPO is like a watch with many moving parts coming together. Some of those parts are listed on this slide IPO Manager “The director” Lawyer ASX, ASIC Accountant/ Auditor Stock Broker Financial Planner Investor Media Marketing person Website, Prospectus, Media
- Today we will hear sessions from 3 experts who have experience in IPOs with Chinese companies James Gerraty, Head of Australian Stock Exchange Listings in Melbourne will present on exactly how IPOs are conducted in the ASX. James will share first-hand case studies on recent Chinese successful listings on the ASX and their journey from start to final listing. Bill Fuggle, Principal at Baker and McKenzie will follow James, Bill has incomparable experience dealing with Chinese companies and lawyers, and his experience has led to the IPO success of many Chinese companies. Bill will share his experience on both sides of the fence, dealing with Chinese lawyers and also highlighting the experience of his Chinese clients negotiating Australian legal framework and Australian lawyers. Finally Greg Ellis, Partner of Corporate Finance at BDO will walk you through exactly how to prepare and present your numbers to the Australia investors, be it to launch an IPO or M&A. Following this will be a session where we will bring together the panel to take your questions and talk more about the journey of investing in Australia
- This week I wrote an article about something in finance called the Efficient Markets Hypothesis (EMH). The EMH is a principle that says all information is already out in the economy and market. There is nothing you could possibly know that everyone else doesn’t know so don’t bother trying to be smart and find a good investment. The example given is that of the Efficient Market professor is walking along with some university students. The students see a 100 RMB note on the ground and one of them stoops down to pick it up. The efficient market professor says, “Don’t bother. If it were really a 100 RMB note it wouldn’t be there.”
- I am here to tell you that in Australia there are many 100 RMB notes on the ground but many Australians business people don’t believe there is Australia has been very prosperous for a long time. Those who built the wealth are retiring and we now have a generation of people spending this wealth. There are less people interested in building a business, finding opportunities, trying new things, taking risks. This is your opportunity as hard working and clever business men and women. Australia is ready for your investment and open for business
- Australia welcomes the ownership of capital and business Australia welcomes the ownership of capital and commercial technology Chinese investors to Australia to create a business, or who has successfully managed its own high-net worth investment Australia not only provide a stable economic and political environment for investment, but also provides its unique kinship of life, a high standard of living conditions, social mobility, flexibility and quality of educational opportunities.
- Financial Institutions' Transparency Australia's financial regulatory environment is recognised as one of the best in the world for promoting stability and strength. On the issue of financial institutions' transparency, the executive opinion survey conducted for the IMD World Competitiveness Yearbook 2010 ranked Australia seventh in the world. Additionally, Australia ranked fourth in the world for the degree to which risk in the financial sector is adequately addressed and ninth for effective finance and banking regulation. Source: The World Competitiveness Yearbook, 2010, IMD, Switzerland, www.imd.ch/wcy.
- These are some of the participants across the Australian Investment Landscape Internal Compliance Committees Independent Boards Independent Auditors ASX ASIC Australian Government/ FIRB Custodians Responsible Entities (RE) Complaints Resolution Schemes Share registries Australian Taxation Office Your IPO co-ordinator, your Lawyer, Accountant and Stockbroker will help you deal with them and make your IPO a smooth process
- Why IPO James will discuss this in more depth, but in summary it is to: Raise Capital Prestige Grow Business
- The following are some reasons why Chinese entrepreneurs list a company in Australia Mature capital market Financial Transparency Same time zone Unable to IPO in Hong Kong, Shanghai & Singapore Wonderful place to live, visit and work Stepping stone to USA listing Listing a company here is very desirable
- A company has the choice of 3 exchanges to list on in Australia National Stock Exchange (NSX) Australian Pacific Exchange (APX) Australian Securities Exchange (ASX) There are 20 companies listed on the NSX. 4 on the APX, and more than 2000 on the ASX Each have different rules and requirements to be listed
- What are examples of companies that have recently listed on the ASX? Dongfang Modern Agriculture Group: the second largest harvester of citrus and camellia products in China. This was a very successful IPO Enice Holdings: wireless telecommunications company selling inside China Traditional Therapy Clinics: one of the largest chains of traditional therapeutic health and wellness clinics in China
- Some doing IPO right now include Soon Mining: A Taiwan background company mining for Gold in Ghana BitCoin: A Melbourne based company mining BitCoins in China HongFa: A Property Management company based in Tianjin. They are listing on the APX DSX Finance: A Guizhou based company with 11 offices providing financing guarantee services
- A few more include One All: High quality outdoor furniture manufactured in China sold worldwide China Dairy: Milk and breeding of cows in Heilongjiang province using money to buy dairy farms in Tasmania WonHe: Selling routers and multimedia machines in China
- These Chinese companies are up against Australian IPOs Some right now include Henry Morgan: A private investment fund open to the public for the first time- they have returned 630% since 2012 Total Face: Seven clinics across Sydney and Melbourne providing skin and cosmetic procedures that don't involve invasive surgery Wellard Group: Australia's biggest livestock exporter Australian IPOs find it easier to get in front of the stockbrokers and to find investors and get media coverage Chinese IPOs have to work harder and smarter to be successful
- In the last 12 months I have personally done 4 successful IPOs Here are the rules to success. If you do this you will be raise more money from shareholders and you not have to extend your IPO Take your time and plan well in advance. Like a baby this needs 9 months Select experienced partners- lawyer, accountant, broker. Make sure they have done a Chinese IPO Have an IPO director- the marketing person. Your broker will only give your IPO 30% of their time, you need someone working 100% of their time ensuring everything comes together Have majority Australians on the Board. Overcome issues of trust and perception that stockbrokers have about Chinese IPOs Price it cheaply- if it is a good company it will go up after listing Build a quality website for potential investors to look through Have investors and shareholders organised before the prospectus is even lodged Finally…..Expect ASIC to hold you up and ask ten thousand questions!
- Do it properly, and ring the bell loud, and long time!
- Thank you for the opportunity to address this esteemed fortune Forum We will now hear from James