Guide to a standard listing. London stock exchange standard listing. The costs of a standard listing.What is a standard listing.
AIM vs standard listing. Standard listing companies. LSE standard listing rules. Standard listing requirements. The Main Market standard listing. Benefits of a standard listing. drawbacks of a standard listing. Standard listing vs premium listing.London stock exchange rules. How to join the standard list.
A guide to all cash shells. The guide covers the meaning of cash shells. What are cash shell companies. Cash shells for sale . How to undertake a reverse takeover . The process of a cash shell transaction. Cash shells on AIM. Cash Shells on the standard list. Cash Shells on NEX .How to value cash shells. The cost of cash shells. Cash shell companies on the London Stock Exchange. Cash shell IPO. Investing in cash shell companies. The benefits of cash shells. The drawback of cash shells. list of cash shells. cash shell contact details. UK cash shells.
This slide deck takes a look at the reasons behind why you would float a company on the stock exchange, the different methods of flotation, the initial steps to flotation and then a further look in more detail at the AIM Stock Market. To learn more or book a free consultation visit our website http://www.hbcg.co.uk
ISDX is generally regarded as most suitable for companies looking to raise up to £5m. There are no formal restrictions on the type of business, industry sector or size of companies that can join the ISDX Growth Market. Our new guide has been published to as an essential source for progressing down this route. To know more visit http://www.hbcg.co.uk
1. The document discusses trends in the asset management industry towards "cheap beta" index funds and the "hunt for alpha" in specialized boutique investment managers.
2. It introduces MET Collective Investments' partners which are boutique investment managers that have undergone rigorous research and offer unique investment strategies.
3. MET Collective Investments supports boutiques by providing infrastructure, visibility, and distribution to help them focus on investment management while leveraging Momentum's resources.
AIM stock market. What is the AIM stock market. AIM stock market listings. AIM stock market companies. AIM stock market London. Cost of joining AIM. AIM IPO. AIM vs NEX. AIM vs Standard listing. AIM for non UK Companies. AIM tax rules. How to join AIM stock market. AIM stock market rules. LSE AIM. Listing on AIM. Benefits of AIM stock market. AIM stock exchange. Floating a company on AIM. Floating a business on AIM. Raising funding on AIM . AIM for non UK companies. AIM case studies. stock market terms. AIM stock market timetable. AIM stock market shares.
Presentation By Bursa Saham Malaysia Mr. Rafe Azsnal
This document provides an overview of listing a company on the stock exchange in Malaysia. It discusses the various stages of a company's lifecycle and suitable funding sources. It then covers the listing process and requirements for the main board and ACE market. Key benefits of listing are highlighted such as raising funds and enhancing a company's profile. Case studies of well-known Malaysian listed companies are also presented to showcase success stories. Contact details are provided at the end for those interested in learning more about listing.
AIM is the London Stock Exchange's market for smaller, growing companies, launched in 1995. It provides companies a way to raise capital to fund growth and an exit route for early investors. Over 1,100 companies are listed on AIM with a total market value of over £67 billion. These companies operate globally and represent a wide range of sectors. AIM allows companies to raise capital throughout their life on the market and provides access to leading institutional investors. Its entry and continuing requirements are tailored for growing companies seeking to maximize their growth potential and visibility.
Guide to a standard listing. London stock exchange standard listing. The costs of a standard listing.What is a standard listing.
AIM vs standard listing. Standard listing companies. LSE standard listing rules. Standard listing requirements. The Main Market standard listing. Benefits of a standard listing. drawbacks of a standard listing. Standard listing vs premium listing.London stock exchange rules. How to join the standard list.
A guide to all cash shells. The guide covers the meaning of cash shells. What are cash shell companies. Cash shells for sale . How to undertake a reverse takeover . The process of a cash shell transaction. Cash shells on AIM. Cash Shells on the standard list. Cash Shells on NEX .How to value cash shells. The cost of cash shells. Cash shell companies on the London Stock Exchange. Cash shell IPO. Investing in cash shell companies. The benefits of cash shells. The drawback of cash shells. list of cash shells. cash shell contact details. UK cash shells.
This slide deck takes a look at the reasons behind why you would float a company on the stock exchange, the different methods of flotation, the initial steps to flotation and then a further look in more detail at the AIM Stock Market. To learn more or book a free consultation visit our website http://www.hbcg.co.uk
ISDX is generally regarded as most suitable for companies looking to raise up to £5m. There are no formal restrictions on the type of business, industry sector or size of companies that can join the ISDX Growth Market. Our new guide has been published to as an essential source for progressing down this route. To know more visit http://www.hbcg.co.uk
1. The document discusses trends in the asset management industry towards "cheap beta" index funds and the "hunt for alpha" in specialized boutique investment managers.
2. It introduces MET Collective Investments' partners which are boutique investment managers that have undergone rigorous research and offer unique investment strategies.
3. MET Collective Investments supports boutiques by providing infrastructure, visibility, and distribution to help them focus on investment management while leveraging Momentum's resources.
AIM stock market. What is the AIM stock market. AIM stock market listings. AIM stock market companies. AIM stock market London. Cost of joining AIM. AIM IPO. AIM vs NEX. AIM vs Standard listing. AIM for non UK Companies. AIM tax rules. How to join AIM stock market. AIM stock market rules. LSE AIM. Listing on AIM. Benefits of AIM stock market. AIM stock exchange. Floating a company on AIM. Floating a business on AIM. Raising funding on AIM . AIM for non UK companies. AIM case studies. stock market terms. AIM stock market timetable. AIM stock market shares.
Presentation By Bursa Saham Malaysia Mr. Rafe Azsnal
This document provides an overview of listing a company on the stock exchange in Malaysia. It discusses the various stages of a company's lifecycle and suitable funding sources. It then covers the listing process and requirements for the main board and ACE market. Key benefits of listing are highlighted such as raising funds and enhancing a company's profile. Case studies of well-known Malaysian listed companies are also presented to showcase success stories. Contact details are provided at the end for those interested in learning more about listing.
AIM is the London Stock Exchange's market for smaller, growing companies, launched in 1995. It provides companies a way to raise capital to fund growth and an exit route for early investors. Over 1,100 companies are listed on AIM with a total market value of over £67 billion. These companies operate globally and represent a wide range of sectors. AIM allows companies to raise capital throughout their life on the market and provides access to leading institutional investors. Its entry and continuing requirements are tailored for growing companies seeking to maximize their growth potential and visibility.
This power point Presentation talks about top ten Shipping companies in the world in terms of :-
1. number of branches worldwide
2.number of employees worldwide
3.Total REVENUE
4.Total number of ships owned by them
This ppt also includes
DIFFERENT TYPE OF SHARES NA D WHAT ARE SHARES basically
The document discusses capital market development in East Africa under the Homegrown Economic Reform Program (HERP). It outlines two phases of reform: developing a competitive treasury bills market and establishing a stock exchange. For phase one, the necessary legal and regulatory frameworks for treasury bill auctions are in place and the first competitive auction was conducted. For phase two, preliminary assessments show the need to develop legal/regulatory frameworks and market infrastructure like a registry before establishing a stock exchange. Capacity building efforts are ongoing for both the central bank and private sector.
Letus Capital SA is a corporate finance advisory firm that provides services such as mergers and acquisitions advisory, capital raising, IPOs, and valuations. Some of their notable clients and projects include advising Integer.pl SA on their IPO and acquisition deals, advising PKN Orlen on a $500 million investment project, and advising Graal SA on their IPO and acquisition deals. Letus Capital has over 100 completed projects and experience advising companies across various industries. They transformed into a public company in 2008 when they debuted on NewConnect.
Letus Capital SA is a corporate finance advisory firm that provides services such as mergers and acquisitions advisory, capital raising, IPOs, and valuations. Some of their notable clients and projects include advising Integer.pl SA on their IPO and acquisition deals, advising PKN Orlen on a $500 million investment project, and advising Graal SA on their IPO and acquisition deals. Letus Capital has over 100 completed projects and experience advising companies across various industries. They transformed into a public company in 2008 when they debuted on NewConnect.
Based on our direct conversations with stockbrokers, NOMADs, auditors and lawyers, an LSE AIM listed company valued at $100m would need to have (ultra conservatively) $8–10m in revenue and $0–1m in EBITDA.
https://jason.com.ng/a-120-150m-ipo-for-iroko-in-2021/
This document discusses factors that are important for successful buying and selling of distressed businesses. It notes that while the number of mid-market distressed sales in Europe has remained consistent, the average deal value has increased due to more buyers seeking distressed opportunities. However, the current M&A market remains challenging due to Brexit uncertainty, consumer spending concerns, and other issues. The document outlines eight key factors for successful distressed transactions: clear cash management and turnaround plans, robust business models and management teams, appropriate financing and structuring, and addressing employee and off-balance sheet asset issues. Experience with these factors is important for extracting value from distressed processes.
Private equity involves long-term investing to strengthen and grow companies. It provides capital for companies in need, creates jobs, and drives economic growth and innovation while delivering steady returns for investors. Private equity managers purchase stakes in private companies and work to increase their value through strategies like leveraged buyouts, venture capital, growth investments, and turnarounds. The private equity industry invests over $1.6 trillion in thousands of companies each year.
This document outlines the Australian Small Scale Offerings Board (ASSOB) as an alternative for raising capital. ASSOB allows companies to raise up to $5 million without a disclosure document, which can save significant time and costs compared to a public offer. Key benefits of ASSOB include quick access to capital, an established network of professional investors, and the ability to conduct future capital raisings. The document then provides details on Tauro Capital's ASSOB advisory services and credentials in supporting capital raisings.
What are investors looking for. Catherine Simpson, Scottish Equity PartnersAlbaInnovationCentre
Catherine is Head of Operations at SEP. With a background in law and investment, she was one of the SEP founder team members. Catherine will give an overview of SEP, what they are looking for from companies seeking investment and what makes a good pitch!
This presentation provides an overview of venture capital, including what it is, its key features and advantages/disadvantages. It also discusses the venture capital investment process, common financing methods, exit routes, major venture capital funds in India and reasons for the growth of venture capital in India. Key sectors and cities attracting venture capital investments are also highlighted.
This document provides an overview of different forms of private equity funding. It discusses why companies need funds and when equity financing is preferred over debt. It then describes various forms of private equity including angel investors, venture capital, growth-stage private equity, buyout funds, and mezzanine debt. The document reviews recent trends in private equity deals and sectors. It also outlines the general private equity investment process, valuation methods, deal structures, exit options, and considerations for private equity funding. In the conclusion, it notes that private equity is operating in a challenging environment with a large pipeline of future exits.
The document discusses venture capital, which provides financing to new companies with high growth potential. It defines venture capital and outlines its key features, including supporting entrepreneurial talent, providing management skills, and involving high-risk, high-return financing. The document then details the typical venture capital process of deal origination, screening, evaluation, deal structuring, and various exit options. It also reviews the advantages and disadvantages of venture capital, major venture capital funds in India, and SEBI regulations of venture capital.
The document provides an overview of the Egyptian stock market (EGX) including:
1) It describes the key products and services offered by EGX such as stocks, bonds, funds, and structured products.
2) It outlines EGX's strategy to enhance regulations, trading platforms, economic welfare, and promotional activities.
3) It summarizes the listing process and requirements for companies to be listed on EGX as well as the role of listing agents.
The document provides information about stock exchanges and indexes in Pakistan. It discusses the history of stock exchanges dating back to the 12th century in France. It then covers the purpose and role of stock exchanges, including raising capital for businesses and creating investment opportunities. The document outlines the vision, mission and various indexes of the Karachi Stock Exchange, including the KSE 100, KSE 30 and KMI 30 indexes. It provides details on how the KSE 100, KSE 30 and KMI 30 indexes are calculated based on factors like market capitalization and dividends of the companies that make up each index.
ML Capital_AIFMD Helping to Reinforce the UCITS Brandjohn lowry
The Alternative Investment Fund Managers Directive (AIFMD) has driven many US and Asian hedge fund managers to embrace UCITS funds for distribution in Europe. UCITS offers increased transparency, tax efficiency, liquidity and an established brand compared to AIFMD. By 2018, national private placement rules will be phased out, so relying on reverse solicitation will no longer be an effective strategy for non-European managers. As a result, more managers are choosing to establish UCITS-compliant funds to access the European market.
This document outlines various sources of funding for innovation in Scotland, including grants, loans, equity, and other support. It describes the SMART, R&D, and Innovation Support grants provided by Scottish Enterprise, which fund feasibility studies, product development, and commercialization activities. It also details the Scottish Investment Bank Seed Fund, Scottish Co-investment Fund, and Scottish Venture Fund, which provide equity funding between £20,000 to over £2 million. Other sources mentioned include local councils, Business Gateway, universities, and websites highlighting additional UK and EU grant opportunities.
For everyone who is interested in investing in Uganda stock exchange, you can use these slides or contact me for more information at kasulepaul.gmail .com
This deck outlines how venture capital works from the venture capital perspective from investment criteria, investment strategy, how deal flow works, and deal flow management.
Venture capital refers to investments made in startup companies and small businesses with high growth potential. The concept originated in the United States in the 1940s. Venture capital is typically invested in stages from seed funding to later expansion rounds. It is a high-risk investment that provides capital as well as management expertise to growing companies. While the venture capital industry has grown in South Asia, Bangladesh has relatively few venture capital funds to support its small and medium enterprises. The document recommends expanding venture capital availability and support for entrepreneurs in Bangladesh.
The document provides information about the AQUIS Stock Exchange (AQSE) and its two equity markets:
1) The AQSE Growth Market is designed for smaller companies and has two segments - Access (AXS) for early stage companies and Apex (APX) for more established companies. It offers a streamlined listing process and reduced costs and regulations.
2) The AQSE Main Market is for larger companies and requires them to meet more demanding UK corporate governance standards but provides access to a broad range of investors.
3) The guide contains information about listing requirements, costs, and benefits of the different AQSE markets and segments.
The subsidiary De Micco & Friends Capital invests internationally in diversified segments. At the heart of every investment decision is not only a good product, but a good communication strategy, an interesting market, and also the entrepreneur and the management team.
Besides their own investments De Micco & Friends advises private and institutional investors. De Micco & Friends Capital invests also in private equity as well as in the context of stock exchange capital market transactions, such as capital, IPOs, reverse mergers with institutional block trades or replacement of existing shareholders.
The document discusses the role and functions of stock exchanges. It provides several key points:
1) Stock exchanges allow companies to raise capital by selling shares to investors. They also facilitate various forms of capital raising like venture capital, corporate partnerships, and government bond issuances.
2) Going public through an IPO on a stock exchange is an important way for capital-intensive startups to raise large amounts of funding.
3) Stock exchanges mobilize individual savings for investment purposes and allow small investors access to investing in major companies. They also provide a means for companies to grow through acquisitions.
4) Share prices on stock exchanges can act as an indicator of overall economic trends and stability.
This power point Presentation talks about top ten Shipping companies in the world in terms of :-
1. number of branches worldwide
2.number of employees worldwide
3.Total REVENUE
4.Total number of ships owned by them
This ppt also includes
DIFFERENT TYPE OF SHARES NA D WHAT ARE SHARES basically
The document discusses capital market development in East Africa under the Homegrown Economic Reform Program (HERP). It outlines two phases of reform: developing a competitive treasury bills market and establishing a stock exchange. For phase one, the necessary legal and regulatory frameworks for treasury bill auctions are in place and the first competitive auction was conducted. For phase two, preliminary assessments show the need to develop legal/regulatory frameworks and market infrastructure like a registry before establishing a stock exchange. Capacity building efforts are ongoing for both the central bank and private sector.
Letus Capital SA is a corporate finance advisory firm that provides services such as mergers and acquisitions advisory, capital raising, IPOs, and valuations. Some of their notable clients and projects include advising Integer.pl SA on their IPO and acquisition deals, advising PKN Orlen on a $500 million investment project, and advising Graal SA on their IPO and acquisition deals. Letus Capital has over 100 completed projects and experience advising companies across various industries. They transformed into a public company in 2008 when they debuted on NewConnect.
Letus Capital SA is a corporate finance advisory firm that provides services such as mergers and acquisitions advisory, capital raising, IPOs, and valuations. Some of their notable clients and projects include advising Integer.pl SA on their IPO and acquisition deals, advising PKN Orlen on a $500 million investment project, and advising Graal SA on their IPO and acquisition deals. Letus Capital has over 100 completed projects and experience advising companies across various industries. They transformed into a public company in 2008 when they debuted on NewConnect.
Based on our direct conversations with stockbrokers, NOMADs, auditors and lawyers, an LSE AIM listed company valued at $100m would need to have (ultra conservatively) $8–10m in revenue and $0–1m in EBITDA.
https://jason.com.ng/a-120-150m-ipo-for-iroko-in-2021/
This document discusses factors that are important for successful buying and selling of distressed businesses. It notes that while the number of mid-market distressed sales in Europe has remained consistent, the average deal value has increased due to more buyers seeking distressed opportunities. However, the current M&A market remains challenging due to Brexit uncertainty, consumer spending concerns, and other issues. The document outlines eight key factors for successful distressed transactions: clear cash management and turnaround plans, robust business models and management teams, appropriate financing and structuring, and addressing employee and off-balance sheet asset issues. Experience with these factors is important for extracting value from distressed processes.
Private equity involves long-term investing to strengthen and grow companies. It provides capital for companies in need, creates jobs, and drives economic growth and innovation while delivering steady returns for investors. Private equity managers purchase stakes in private companies and work to increase their value through strategies like leveraged buyouts, venture capital, growth investments, and turnarounds. The private equity industry invests over $1.6 trillion in thousands of companies each year.
This document outlines the Australian Small Scale Offerings Board (ASSOB) as an alternative for raising capital. ASSOB allows companies to raise up to $5 million without a disclosure document, which can save significant time and costs compared to a public offer. Key benefits of ASSOB include quick access to capital, an established network of professional investors, and the ability to conduct future capital raisings. The document then provides details on Tauro Capital's ASSOB advisory services and credentials in supporting capital raisings.
What are investors looking for. Catherine Simpson, Scottish Equity PartnersAlbaInnovationCentre
Catherine is Head of Operations at SEP. With a background in law and investment, she was one of the SEP founder team members. Catherine will give an overview of SEP, what they are looking for from companies seeking investment and what makes a good pitch!
This presentation provides an overview of venture capital, including what it is, its key features and advantages/disadvantages. It also discusses the venture capital investment process, common financing methods, exit routes, major venture capital funds in India and reasons for the growth of venture capital in India. Key sectors and cities attracting venture capital investments are also highlighted.
This document provides an overview of different forms of private equity funding. It discusses why companies need funds and when equity financing is preferred over debt. It then describes various forms of private equity including angel investors, venture capital, growth-stage private equity, buyout funds, and mezzanine debt. The document reviews recent trends in private equity deals and sectors. It also outlines the general private equity investment process, valuation methods, deal structures, exit options, and considerations for private equity funding. In the conclusion, it notes that private equity is operating in a challenging environment with a large pipeline of future exits.
The document discusses venture capital, which provides financing to new companies with high growth potential. It defines venture capital and outlines its key features, including supporting entrepreneurial talent, providing management skills, and involving high-risk, high-return financing. The document then details the typical venture capital process of deal origination, screening, evaluation, deal structuring, and various exit options. It also reviews the advantages and disadvantages of venture capital, major venture capital funds in India, and SEBI regulations of venture capital.
The document provides an overview of the Egyptian stock market (EGX) including:
1) It describes the key products and services offered by EGX such as stocks, bonds, funds, and structured products.
2) It outlines EGX's strategy to enhance regulations, trading platforms, economic welfare, and promotional activities.
3) It summarizes the listing process and requirements for companies to be listed on EGX as well as the role of listing agents.
The document provides information about stock exchanges and indexes in Pakistan. It discusses the history of stock exchanges dating back to the 12th century in France. It then covers the purpose and role of stock exchanges, including raising capital for businesses and creating investment opportunities. The document outlines the vision, mission and various indexes of the Karachi Stock Exchange, including the KSE 100, KSE 30 and KMI 30 indexes. It provides details on how the KSE 100, KSE 30 and KMI 30 indexes are calculated based on factors like market capitalization and dividends of the companies that make up each index.
ML Capital_AIFMD Helping to Reinforce the UCITS Brandjohn lowry
The Alternative Investment Fund Managers Directive (AIFMD) has driven many US and Asian hedge fund managers to embrace UCITS funds for distribution in Europe. UCITS offers increased transparency, tax efficiency, liquidity and an established brand compared to AIFMD. By 2018, national private placement rules will be phased out, so relying on reverse solicitation will no longer be an effective strategy for non-European managers. As a result, more managers are choosing to establish UCITS-compliant funds to access the European market.
This document outlines various sources of funding for innovation in Scotland, including grants, loans, equity, and other support. It describes the SMART, R&D, and Innovation Support grants provided by Scottish Enterprise, which fund feasibility studies, product development, and commercialization activities. It also details the Scottish Investment Bank Seed Fund, Scottish Co-investment Fund, and Scottish Venture Fund, which provide equity funding between £20,000 to over £2 million. Other sources mentioned include local councils, Business Gateway, universities, and websites highlighting additional UK and EU grant opportunities.
For everyone who is interested in investing in Uganda stock exchange, you can use these slides or contact me for more information at kasulepaul.gmail .com
This deck outlines how venture capital works from the venture capital perspective from investment criteria, investment strategy, how deal flow works, and deal flow management.
Venture capital refers to investments made in startup companies and small businesses with high growth potential. The concept originated in the United States in the 1940s. Venture capital is typically invested in stages from seed funding to later expansion rounds. It is a high-risk investment that provides capital as well as management expertise to growing companies. While the venture capital industry has grown in South Asia, Bangladesh has relatively few venture capital funds to support its small and medium enterprises. The document recommends expanding venture capital availability and support for entrepreneurs in Bangladesh.
The document provides information about the AQUIS Stock Exchange (AQSE) and its two equity markets:
1) The AQSE Growth Market is designed for smaller companies and has two segments - Access (AXS) for early stage companies and Apex (APX) for more established companies. It offers a streamlined listing process and reduced costs and regulations.
2) The AQSE Main Market is for larger companies and requires them to meet more demanding UK corporate governance standards but provides access to a broad range of investors.
3) The guide contains information about listing requirements, costs, and benefits of the different AQSE markets and segments.
The subsidiary De Micco & Friends Capital invests internationally in diversified segments. At the heart of every investment decision is not only a good product, but a good communication strategy, an interesting market, and also the entrepreneur and the management team.
Besides their own investments De Micco & Friends advises private and institutional investors. De Micco & Friends Capital invests also in private equity as well as in the context of stock exchange capital market transactions, such as capital, IPOs, reverse mergers with institutional block trades or replacement of existing shareholders.
The document discusses the role and functions of stock exchanges. It provides several key points:
1) Stock exchanges allow companies to raise capital by selling shares to investors. They also facilitate various forms of capital raising like venture capital, corporate partnerships, and government bond issuances.
2) Going public through an IPO on a stock exchange is an important way for capital-intensive startups to raise large amounts of funding.
3) Stock exchanges mobilize individual savings for investment purposes and allow small investors access to investing in major companies. They also provide a means for companies to grow through acquisitions.
4) Share prices on stock exchanges can act as an indicator of overall economic trends and stability.
TechShare is EnterNext's 10-month educational and mentoring program that aims to help CEOs of technology companies learn about financial markets to help grow their businesses. The program provides seminars, workshops, and coaching on topics like business planning, innovation management, and preparing for an IPO. Since 2015, the program has supported 77 companies. EnterNext and its partners hope TechShare will help technology entrepreneurs secure the financing they need to further develop their companies and connect them with investors.
The document discusses developments in the Indian primary market. It describes the primary market as the market where new securities like stocks and bonds are first issued. Recent developments include strengthening disclosure requirements, introducing an institutional trading platform, increasing the role of institutional investors, streamlining the public issue process, and reforming regulations governing public offerings. The primary market plays an important role in capital formation and the overall development of companies in India.
The new field of revenue royalties finance is explained. Introduction to the work of Arthur Lipper in the field; advantages from the perspective of the investor, the company; problems solved. The prospect of a Royalties Exchange is introduced. A case study, introduction to complimentary modelling tools. Prepared by Michael North.
The 2015 guide to cash shells listed on the UK stock market.
For companies considering raising funding using a reverse transaction into a listed cash shell company. The guide includes AIM cash shell transactions and ISDX cash shell transactions.
Global Bridge Management Sdn Bhd can assist companies through every stage of the IPO process, from preliminary assessment and pre-listing preparation to post-listing compliance and investor relations. Their services include auditing, corporate governance consulting, regulatory reporting, and helping companies build management teams and board structures to meet listing requirements. As specialists in IPO advisory, Global Bridge can leverage their experience to guide companies efficiently through the complex IPO lifecycle and requirements to achieve a successful public listing.
Global Bridge Management Sdn Bhd provides concierge services to guide small and medium enterprises through the process of going public. They assist companies with pre-listing assessments and diagnostics, fundraising of RM20 million, assigning a reporting accountant, and strategic advice. During the listing process, they help with audit/reporting, M&A opportunities, regulatory compliance, internal controls, capital markets transactions, management team development, and governance best practices. Their goal is to prepare companies for a successful initial public offering and life as a publicly traded entity.
The Multi-Asset Class Conundrum: Solving Post-Trade Complexities Across Busin...Broadridge
As trading across multiple asset classes increases, operating in silos is no longer an effective strategy for optimizing post-trade efficiency, mitigating risk and capitalizing on market opportunities. This paper uncovers how leading firms are consolidating their operations, data and technology infrastructures to create a center of excellence for multi-asset post-trade processing.
London AIM Advisory Services provides advisory services for Israeli companies seeking to list on the AIM market in London. The document discusses:
1) Who London AIM Advisory Services are and their experience in corporate finance and IPO processes.
2) The benefits they provide over other introducers, including fully assessing company suitability and viability for listing before introducing them to brokers.
3) An overview of the roadmap and key steps involved in pursuing an IPO on AIM.
London AIM Advisory Services provides advisory services for Israeli companies seeking to list on the AIM market in London. The document discusses Mark Reichenberg's background and experience in corporate finance and IPOs. It outlines the services London AIM Advisory provides, including introducing suitable client companies to brokers, assisting through the entire listing process, and ensuring clients understand requirements and can present a quality investment case. The goal is to help clients successfully list with no unexpected issues, while maintaining integrity and suitability of client companies.
1) Intense competition between large financial institutions like banks has improved investment platforms by encouraging more functionality and better service for investors.
2) While bank-controlled platforms like CBA's CFS FirstChoice and Westpac's BT Wrap have large funds due to their brand recognition, independent platforms without legacy systems like Hub24, Netwealth, and Powerwrap are encouraging innovation.
3) Key factors for investors in choosing a platform include functionality for managing different asset types, reporting capabilities, fees, and ease of use.
The document discusses mergers and acquisitions from multiple perspectives:
- It outlines some of the key advantages and disadvantages of mergers and acquisitions, such as allowing shareholders to own a piece of a larger company or potential clashes of company cultures.
- It then explains different types of mergers and acquisitions like vertical, horizontal, conglomerate, and circular combinations.
- Next, it introduces a five stage model of mergers and acquisitions that includes corporate strategy development, organizing for acquisitions, deal structuring, post-acquisition integration, and post-acquisition audits.
- It also discusses how synergies can be created through mergers and acquisitions by improving financial performance, providing
This document provides information about Bangladesh's capital market. It begins with an introduction to capital markets and defines them as markets for securities where companies and governments can raise long-term funds. It then discusses Bangladesh's capital market in more detail, noting that it consists of two stock exchanges (Dhaka Stock Exchange and Chittagong Stock Exchange) regulated by the Securities and Exchange Commission. Various indexes used by each exchange are also outlined. The document concludes by discussing some functions and benefits of capital markets, types of market management, challenges faced by Bangladesh's market and prospects for future growth.
The document discusses approaches to improving access to finance for small and medium enterprises (SMEs). It outlines various government intervention programs that can support SMEs, including partial credit guarantee schemes, capacity building programs, and wholesale funding facilities. It emphasizes that developing sustainable finance providers, strong governance, and market-reactive policies are key to successfully applying these intervention models. The document also stresses the importance of enabling regulatory frameworks, secured transactions systems, and developing a long-term viable market for innovation finance with successful exits.
Sourajit Aiyer - Financial Express Bangladesh - SME Exchanges in Emerging Mar...South Asia Fast Track
Small and medium enterprises (SMEs) contribute significantly to India's GDP and employment, but many have difficulty raising equity financing. The proposed SME exchange platform by the Bombay Stock Exchange (BSE) could boost SME financing by providing a niche market for growth companies. However, the success of the exchange will depend on addressing challenges such as the diversity of the SME sector, low research coverage, and lack of liquidity and corporate governance practices at some small companies. Key factors for success include identifying high growth sectors and companies, improving research coverage, strengthening corporate governance, and ensuring affordable costs.
What are the main advantages and disadvantages of going publicS.pdfanaxeetech
What are the main advantages and disadvantages of going public?
Solution
There are many advantages for a company going public. The financial benefit in the form of
raising capital is the most distinct advantage. Capital can be used to fund research and
development, fund capital expenditure or even used to pay off existing debt. Another advantage
is an increased public awareness of the company because IPOs often generate publicity by
making their products known to a new group of potential customers.
Subsequently this may lead to an increase in market share for the company. An IPO also may be
used by founding individuals as an exit strategy. Many venture capitalists have used IPOs to cash
in on successful companies that they helped start-up.
One of the most important changes is the need for added disclosure for investors. Public
companies are regulated by the Securities Exchange Act of 1934 in regard to periodic financial
reporting, which may be difficult for newer public companies. They must also meet other rules
and regulations that are monitored by the Securities and Exchange Commission (SEC). More
importantly, especially for smaller companies, is the cost of complying with regulatory
requirements can be very high. These costs have only increased with the advent of the Sarbanes-
Oxley Act. Some of the additional costs include the generation of financial reporting documents,
audit fees, investor relation departments and accounting oversight committees.
Public companies also are faced with the added pressure of the market which may cause them to
focus more on short-term results rather than long-term growth. The actions of the company\'s
management also become increasingly scrutinized as investors constantly look for rising profits.
This may lead management to perform somewhat questionable practices in order to boost
earnings.
Before deciding whether or not to go public, companies must evaluate all of the potential
advantages and disadvantages that will arise. This usually will happen during the underwriting
process as the company works with an investment bank to weigh the pros and cons of a public
offering and determine if it is in the best interest of the company..
WSMM Technology January Newsletter_vF.pdfSamShiah1
This document provides an overview of blockchain, cryptocurrency, and the technology IPO market from January 2023. It discusses the history and concepts of blockchain and cryptocurrency. It also analyzes recent technology IPOs such as ARM, Klaviyo, and the approval of spot Bitcoin ETFs by major financial institutions. The document concludes that the involvement of large companies in cryptocurrency could signal growing acceptance, and anticipates growth in the technology IPO market in 2024 if economic conditions remain stable.
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May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
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The essential nex exchange guide
1. The Essential NEX Exchange Guide
The essential
NEX Exchange
Guide
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2. The Essential NEX Exchange Guide
Contents
Foreword
SECTION A
Listing a company on the UK stock markets
The NEX Exchange Growth Market
Joining the NEX Growth Market
NEX Growth Market flotation process
NEX Growth Market rules
NEX Growth Market Corporate Governance
The costs of joining NEX Growth Market
SECTION B
The NEX Main Board
SECTION C
Frequently asked questions
SECTION D
Glossary of stock market terms
SECTION E
NEX contact details
3
4
5
7
8
10
13
14
16
17
18
20
3. The Essential NEX Exchange Guide
The NEX Growth Market
The NEX Exchange Growth Market is a Recognised
Investment Exchange aimed at SME’s. The straightforward
admission process and rule book are designed to reduce the
red tape and cost involved for smaller companies seeking
a public market listing. The criteria for joining the market
and the ongoing obligations of those companies joining
the market are flexible and straightforward. In addition,
companies who are admitted to the NEX Growth Market
may be eligible for a broad range of company tax reliefs
which are associated with ‘unquoted companies’. These
include capital gains and inheritance tax, and investments
for EIS and ISA’s.
The NEX Main Board
The NEX Main Board is a stock market designed for
larger companies with an established track record of at least
three years. Companies are also expected to meet more
demanding UK Corporate Governance standards. By joining
the NEX Main Board companies benefit from access to a
broad range of retail and institutional investors.
John Holland
Managing Director, Holland Bendelow
We hope that you find this publication a useful reference document, our consultants will be happy to answer
further questions that you may have about The NEX Exchange.
Foreword 3
For smaller companies looking to gain access to a public market, the cost and regulation
involved can sometimes prove prohibitive. The launch of NEX Exchange is welcome as it
is easily accessible by growing entrepreneurial companies.
In June 2012 ICAP acquired PLUS Stock Exchange and renamed it ICAP Securities and Derivatives Exchange
(ISDX). In December 2016 ICAP changed its name from ICAP plc to NEX Group plc and the NEX Exchange was
launched. NEX Exchange offers companies the choice of 2 stock markets, the NEX Exchange Main Board and the
NEX Exchange Growth Market.
4. The Essential NEX Exchange Guide
4 Listing a Company on the UK Stock Markets
Listing a Company on the UK
Stock Markets
Whilst the process of joining any stock market will have challenges, with the right preparation and support,
companies that gain admission to a UK stock market benefit from the considerable upside that a public market
offers. The majority of the world’s most successful companies would not have achieved their success without a
public market listing.
Transparency
Any company listed on a stock market is likely to face more
public and media scrutiny than private companies. However,
most companies outside the FTSE 100 or FTSE 250 are
unlikely to find such scrutiny intrusive or detrimental to their
business operations.
Regulation
Whilst there are additional regulatory responsibilities over
and above those of running a privately owned company,
the rules are generally designed so as not to over
burden companies.
Your company’s reasons for seeking a stock
market listing
Whilst some companies use a listing to add credibility to
their business, the majority of companies choose to float
on a stock market to raise funding to;
• Reduce the dependency on bank finance
• Grow the business organically
• Pay down significant creditors
• Buy out founder shareholders
• Fund strategic acquisitions
Company valuation
One of the major considerations for companies looking to
join a public market is the potential valuation that a company
will command when it joins the market, and thereafter. This
information is not readily available and therefore it is prudent
to seek advice from a specialist at the outset, and prior to
commencing the flotation process.
In most cases stock market consultants will undertake initial
research into the valuation ranges that may be achievable
and assess your company’s ability to raise funding on the
market. This information is key before embarking on the
flotation process and incurring costs associated with joining
a stock market.
A company’s share price
Once a company joins a public market, the pricing of the
company’s stock will be a continuous and ongoing process.
As a company grows and becomes more profitable, it will
generate positive news flow. This will help to stimulate
the share price and the value of the company increases.
Negative price movements can be triggered by macro-
economic or business sector trends or events, however, it
is more likely that they are a response to announcements
to the market that results are not or will not meet the targets
previously set. It’s therefore best practice to ‘under promise
and over deliver’ on your financial and business projections.
SECTION A
5. The Essential NEX Exchange Guide
The NEX Exchange Growth Market 5
The NEX Exchange Growth Market
Of all the major stock markets in the UK (The Main
Market, AIM and The NEX Main Board) NEX Growth
Market offers the quickest, easiest and therefore
the least expensive route to a public market listing
for companies.
The Market has a straightforward process of admission,
and the rules governing NEX Growth Market companies
are less onerous than those for stock markets operated
by The London Stock Exchange.
The NEX Growth Market offers companies several benefits
which would not be available if they remain in private
ownership. These include:
• Access to equity growth capital
• A mechanism to raise additional capital on an ongoing
basis through the further issue of shares
• A platform from which a company is able to broaden
their shareholder base
• The ability to introduce share based incentive
schemes which can be important in motivating,
retaining and recruiting key employees
• A valuation
• The potential to use the company’s shares as
acquisition currency
• A route for existing shareholders to partially or fully
exit at a time of their choosing
• Companies joining the market are able to retain
control because there is flexibility in the amount of
shares that are required to be put into ‘public hands’
Once admitted to the market, the on-going responsibilities
for a company remain straightforward and are designed to
remove over regulation, whilst offering investor protection.
6. The Essential NEX Exchange Guide
6 Standard Listing Overview
Tax benefits
The NEX Growth Market offers investors tax benefits
which encourages investment. This is because companies
that join the market are considered by HMRC to be
‘unquoted’ for most UK tax purposes. NEX Growth Market
investors are therefore able to access various tax benefits
that may include property relief and inheritance tax,
and also they may be eligible for inclusion in tax saving
initiatives such as ISA’s.
6 The NEX Exchange Growth Market
Other considerations
The NEX Growth Market is an independent stock market
owned and operated by NEX. That means that there is
no accelerated route to The London Stock Exchanges
markets (AIM and the Main Market). Therefore a separate
admission document, or a prospectus, will be required
should a company choose to move to one of the London
Stock Exchange markets at a later date. However, having
already joined The NEX Growth Market, and built an
existing shareholder base, the transition to become an AIM
or Main Market company should in most cases be more
straightforward than for a private company joining these
markets for the first time.
The NEX Growth Market has not yet attracted the broader
institutional investor following which, for example, AIM and
The Main Market have. Companies therefore need to be
realistic about the fundraising capacity of the market when
deciding to join.
7. The Essential NEX Exchange Guide
Joining the NEX Growth Market 7
Joining the NEX Growth Market
How to join NEX Growth Market
The NEX Growth Market is attractive to smaller
entrepreneurial companies. To join the market, companies
are required to meet the following key admission criteria:
• Demonstrate appropriate levels of corporate
governance, including having at least one independent
non-executive director
• Have published audited financial reports no more than
nine months prior to the date of admission to trading
• Demonstrate that they have at least 12 months’
working capital
• Have no restrictions on the transferability of shares
• Issue shares which are eligible for electronic settlement
Companies together with their advisers produce an NEX
Growth Market Admission Document. This document
contains key information about the business, its
management team, product or services, and
growth strategy.
Fast-track admission
A fast-track admission procedure is available to companies
from other stock markets that NEX Exchange regards as
‘Qualifying Markets’. These currently include AIM, AIM Italia,
The Main Market, ASX, Canadian Securities Exchange,
and the Access Market of the Munich Stock Exchange. The
benefit for fast-track companies is that they are not required
to publish a formal admission document.
NEX Cash shells
NEX defines cash shells as an issuer (company) which does
not, through itself or its subsidiaries, carry on a business
activity, or intend to commence a business activity in
accordance with an announced business activity, excluding
an investment vehicle.
Cash shells and unsponsored depositary receipts are not
able to be admitted to the NEX Growth Market. However,
there are cash shells present on the market as a result of
companies having disposed of their trading business and
material assets. Whilst this route to joining the market can be
cost effective, it may not suit all situations and shareholders
should recognise the potential risks involved. For further
information on cash shells please see Holland Bendelow’s
cash shell guide available to download at www.hbcg.co.uk.
8. The Essential NEX Exchange Guide
Deciding if, when, and how to join the NEX Growth Market
involves weighing up the pros and cons for your company.
Because of the importance of a potential listing, it’s advisable
to undertake a feasibility exercise prior to commencing the
Assuming a feasibility exercise has been undertaken,
and a decision taken to commence the flotation process,
the consultant will assist in bringing together appropriate
advisor teams required to float the business. They will also
work closely with a company to shape its business strategy
The next stage is to appoint advisers and agree their terms
of engagement. The parties responsible will produce a
timetable with key action points. In some cases additional
due diligence may be required by specialists over and above
the work undertaken by lawyers and accountants. This is
The feasibility stage
The decision stage
Commencing the process of flotation
Stage 1
Stage 2
Stage 3
8 NEX Growth Market Flotation Process
NEX Growth Market Flotation Process
process and incurring costs. If a company has in-house
stock market expertise then it may decide to undertake this,
alternatively it may be beneficial to engage the services of a
stock market consultant.
into a cohesive story which can easily be communicated
to advisors, potential investors and regulators. Often the
key issue at this stage is to present a proposition which
accurately reflects both the current operations and future
potential of the company.
usually the case where a company is involved in mining or
mineral resources. Also, certain technology or bioscience
companies may require additional specialist reports to verify
the valuation of intellectual property.
9. The Essential NEX Exchange Guide
An important part of the process of joining NEX
Growth Market is the due diligence exercise. The
scope of this may differ from company to company
depending upon the size, structure and nature of a
business. Often the focus of due diligence concerns
the individuals involved in the business which may
include the directors of the company and existing
substantial shareholders.
NEX Exchange expect that a company’s advisers have
visited the company’s main site of operation and have
met senior members of the management team. In some
Once the admission document for NEX Growth Market
is completed it will be submitted to the NEX Exchange
regulatory team for approval. Once approved, the admission
document will be published 10 days before full admission to
the market.
It’s most likely that representatives from the company will
be invited to the NEX Exchange headquarters in London to
celebrate the company’s first day on the market.
The due diligence process
Admission document approval Admission day
Stage 4
Stage 5 Stage 6
Joining the Standard Segment of the Main Market 9
circumstances this may also include major shareholders
or those that have significant influence over the business
or its operations. As part of this process, advisers may
also consider other information that is available about the
company.
NEX’s regulatory department will need to be satisfied
that adviser’s have ensured that statements and material
included in the company’s admission document have been
legally verified. In addition, financial due diligence which is
appropriate to the company should have been undertaken
covering key areas such as working capital and financial
reporting controls.
10. The Essential NEX Exchange Guide
10 NEX Growth Market Rules
NEX Growth Market Rules
Flexible regulatory approach
The NEX growth market rules are the most flexible of
any of the UK stock markets and not intended to restrict
entrepreneurial companies from growing. For example,
companies are not usually required to make announcements
in relation to their corporate activity when it’s in the course
of negotiation, if the outcome of the negotiations may
be adversely affected by such a disclosure. A company
can disclose such information to third parties such as
its corporate advisers, or its lenders, and employees.
However, those that receive this information must agree not
to deal in the company’s shares prior to the release of an
announcement from the company to the market.
Social media and the wide use of the internet and smart
devices means that information about companies can be
distributed and received from a variety of sources. It’s
important to ensure that information which may have a
bearing on a company’s share price is disclosed through
formal reporting channels to the market no later than it is
published elsewhere, for example on a company’s website,
Facebook or Twitter feeds.
Lock-in Requirement
Unless previously agreed with NEX Exchange, the directors
of a company, including their family members and those
considered to be ‘connected persons’, should not dispose
of an interest in the company’s shares for a period of twelve
months following admission to NEX Growth Market.
Admission document
A company and its advisors are required to submit to NEX
Exchange a draft admission document. In addition, they
may require the company directors and/or the corporate
advisors to attend an interview with representatives from NEX
Exchange prior to admission.
Ongoing obligations
Companies are expected to comply with the NEX Growth
Market rules and retain an adviser at all times.
Price Sensitive Information
Companies admitted to NEX Growth Market are required to
be aware of their responsibilities in respect to price sensitive
information. In general terms, price sensitive information
is that, which, if made public, would be likely to have a
significant affect on a company’s share price.
Upon joining NEX Growth Market a company must engage
the services of at least one RIS (Regulatory Information
Service) in order to facilitate compliance with the markets
disclosure obligations. In addition, a company must retain at
least one RIS all the time its shares are traded on the market.
Disclosure of standard information
Companies are required to make the following
announcements:
• A notable change to a substantial shareholding in
its shares
• Any re-purchase of its own shares, together with the
purchase price, indicating the number of shares acquired
expressed as a percentage of the total number of shares of
that class
• Any deal by a director or their family or connected person
in a company’s shares
11. The Essential NEX Exchange Guide
Joining the Standard Segment of the Main Market 11
12. The Essential NEX Exchange Guide
12 NEX Growth Market Rules
Financial Reporting
A timetable is sent out for the release of a company’s
financial results to the market. A company’s interim results
for the first half of each financial year must be announced not
later than three months after the end of the relevant period.
A company’s financial year results should be released not
later than five months after the end of the period to which
they relate. Annual audited accounts need to be produced
in accordance with UK GAAP, US GAAP or International
Accounting Standards. In certain circumstances other
accounting standards may be agreed with NEX Exchange.
Dividend policy
Companies that are listed on stock markets and pay
a dividend to shareholders are often well regarded by
investors, however many investors in NEX Growth Market
companies are primarily looking for growth in the company’s
market value over dividend payments. If a company intends
to pay dividends, then an announcement should be made
and a timetable circulated with details about the posting,
and payment dates.
13. The Essential NEX Exchange Guide
NEX Growth Market Corporate
Governance
NEX Growth Market companies are
required to take into account the principles
laid down by the UK Corporate Governance
Code which are published by the Financial
Reporting Council.
However, these are considered on a company
by company basis as the principles may differ
depending upon company size and business
sector. In essence, companies who join the
NEX Growth Market need to ensure that there
is a clear allocation of responsibilities between
the running of the company’s board and the
executive roles which are responsible for the
running of the business.
Non-Executive Directors
A company joining the market should have a minimum of
one wholly independent Non-Executive Director. For some
companies appropriate individuals may already be in place
when the company joins the market, however in many cases
smaller companies looking to join NEX Growth market will
seek to appoint an individual/s prior to admission. Usually
individuals are chosen for their experience and knowledge
of the business sector of a particular company. In some
cases companies choose to appoint individuals with a track
record in the city and who may be already known to stock
market investors.
Director’s responsibilities
The NEX Growth Market rules state that a company must
announce, as soon as possible, the appointment, resignation
or dismissal of a company director. In addition, companies
are required to adopt a code of share dealing to ensure
directors, family members and connected persons do not
deal in its shares during a close period.
Company website
Under the NEX Growth Market rules, a company must
maintain a corporate website to ensure key information about
the company and its operations is publicly available. The
minimum information to be included is;
• The company’s name
• The directors and their biographies
• The name of the company’s professional advisers
• Incorporation details, including the company legislation to
which the company is subject
• A description of the business
• The number of shares which the company has issued,
together with the percentage of shares in public hands
• A list of substantial shareholdings
• A list of the regulatory announcements for the previous
six months
NEX Growth Market Corporate Governance 13
14. The Essential NEX Exchange Guide
The Costs of Joining NEX
Growth Market
Pre float funding –
For some companies a pre-float funding round or even a
reverse transaction into an existing cash shell may be an
alternative to a traditional flotation. These options should be
discussed with your flotation adviser.
Factors that impact on the costs of joining –
• A company’s preferred route to market (introduction,
placement, or reverse into an existing cash shell)
• The amount of funding a company raises
• How prepared the management team and company are to
commence the flotation process
In the majority of cases a flotation on NEX
Growth Market will cost less than other UK stock
markets. However, costs can vary from company
to company and it’s important to commence
the process having already established the
likely cost. If a fundraising is to be part of the
initial flotation strategy, commissions on raising
the funding are invariably only taken once the
funding is actually raised.
16 Raising funding on AIM
15. The Essential NEX Exchange Guide
Managing the costs –
In many cases smaller growing companies raise additional
funding over and above that required for their business
growth to pay some or all of the costs of a flotation. In
addition, many companies agree with their adviser teams
to ‘back end load’ fees until the fundraising is completed.
In some cases companies appoint certain advisers on a
contingency basis whereby a proportion of fees become due
only when the company has successfully floated on the NEX
Growth Market.
The Costs of Joining NEX Growth Market 15
NEX Growth Market - fee table
Application and Admission
By market capitalisation for equities and notional value for bonds
Under £10m
£10m - £25m
£25m - £50m
An additional £1,000 per £10m will be charged up to a maximum fee of £50,000
Further issues of shares
For each further issue of new share capital or increase in value
New class of shares introduced
Fees for companies transferring from other markets
A company trasnferring from a qualifying market
NEX Exchange Main Board company already trading on another
EU Regulated Market
Annual fees
For each issuer
Each additional line of securities in issue
Application fee
£2,500
£5,000
£5,000
Admission fee
£5,000
£7,500
£15,000
£500
£5,000
£500
£5,000
£6,500
£1,000
16. The Essential NEX Exchange Guide
16 The NEX Main Board
The NEX Main Board
SECTION B
The NEX Main Board is designed to meet the needs
of larger or more mature businesses. Companies are
required to produce a prospectus approved by the
UK Listing Authority (UKLA) or other EU competent
authority under the Prospectus Directive.
The application for admission to the market is then made in
conjunction with a company’s application to the UKLA (or
other EU competent authority for listing) for admission to the
Official List.
Companies apply to join the NEX Main Board in accordance
with the NEX Exchange rules. Under these rules, companies
are asked to provide to NEX Exchange a copy of their
approved prospectus (or confirmation of exemption) in order
to gain admission.
17. The Essential NEX Exchange Guide
SECTION C
Frequently Asked Questions
How long does the NEX Growth Market
flotation process take?
What is the first step in the process of
joining NEX Growth Market?
Will joining the NEX Growth market change
the way in which we manage the company?
Is NEX Growth Market a more suitable
option than AIM for smaller companies?
Typically the flotation process for NEX Growth Market is three to four
months from the point when a company decides to proceed with a
flotation, following undertaking the feasibility stage. It is important to bear
in mind that every company is different and the actual timetable may
depend on how much preparatory work is undertaken by the company
and flotation consultants in advance of the flotation process commencing.
Contact a stock market flotation expert and discuss your requirements
with them. They will need to understand your business, what level of
funding you require, and how it will be allocated. It’s helpful but not
essential to have a business plan or copies of your company’s accounts
to hand.
Joining the market does not alter your ability to manage the business in
the way that you feel is appropriate. For most companies the process of
joining the market and maintaining a listing is considerably less intrusive
than other methods of raising capital, such as Venture Capital.
Both markets have their benefits. From a cost perspective the
NEX Growth Market has considerable benefits over AIM, however
undertaking fundraisings may be more appropriate on AIM. It’s
advisable to undertake a certain amount of feasibility work either in-
house or with the support of a stock market consultant to ascertain
which stock market is most appropriate for your company particularly
over the longer term.
Frequently Asked Questions 17
18. The Essential NEX Exchange Guide
Admission - The admission of securities to trading on a stock market.
Admission agreement - A document detailing contractual responsibilities of a company.
Admission Document - The disclosure document which a company applying for admission to NEX Exchange must produce. Unlike
a Prospectus, an Admission Document does not need the approval of the FSA.
AIM - Originally called the Alternative Investment Market. The London Stock Exchanges market for smaller growing companies.
Approved prospectus - The document produced by the company and its advisors to be approved by the Competent Authority of the
company’s home country, and published in relation to the admission of securities to a regulated stock market, or an offer of securities
to the public.
Close Period - A period of time in which a company must ensure that its directors and applicable employees do not deal in any of its
own shares.
Connected person - A trust of which a director of a company is a trustee or beneficiary.
Corporate Governance - Used to describe the systems used to control corporations. There are corporate governance codes and
recommendations that are not compulsory.
Depositary receipt (DR) - A transferable certificate that represents shares in a company and confers certain rights in respect of
those shares, issued by a depository bank for the purposes of admission to trading.
Dividend - The part of a company’s profits after tax which is distributed to shareholders, usually expressed in pence per share.
Due diligence - The process of obtaining all information about a company to ensure that the company is appropriate to be admitted
to a stock market.
Equity - The stake its owners have in the company. This is the risk sharing part of a company’s capital, usually made up of ordinary
shares.
FCA - The Financial Conduct Authority
Flotation - When a company’s shares are admitted to trading on a Stock Exchange.
Free float - The amount of shares in a company which are in ‘public hands’ i.e. not owned by a director of the company or its
subsidiaries, or individuals connected with the company and any person holding five per cent or more of the shares.
FSA - The Financial Services Authority, who act as the competent authority in the UK.
Introduction - A method of obtaining admission to a stock market without an offering of shares.
Issuer - An issuer or company whose shares have been admitted to trading.
Market capitalisation (Market Cap) - The total value of the shares of a company, sector or market.
Market Maker - A securities firm which is obliged to offer to buy and sell securities in which it is registered to the market for the first
time or issues of extra shares.
Official List - The list maintained by the FSA of those securities which have been admitted to listing.
18 Glossary of Stock Market Terms
Glossary of Stock Market Terms
SECTION DSECTION D
19. The Essential NEX Exchange Guide
Glossary of Stock Market Terms 19
Ordinary Shares - The most common form of share. Holders may receive dividends in line with the company’s profitability and on
the recommendation of its directors.
Primary market - The function of a stock exchange in bringing securities to the market for the first time. Money is raised either for
the company at admission or through further issues to fund future growth.
Primary company - A company which is not a public company and which is not allowed to offer its shares to the general public.
Prospectus - When a company applies for a listing of its securities which are to be offered to the public in the UK, a prospectus is
required in accordance with the UKLA’s rules, detailing information on the company, its accounts, directors and its securities listed.
Related Party - Any director of the company or any other group company, any substantial shareholder who holds 10% or more of the
company’s shares or any associate of any director or any substantial shareholder.
Shell Company - A shell company is a company that exists but does not actually do any business or have any assets. A listed shell
has significant value even if does not have any assets. Listed shells are therefore often targets for reverse takeovers.
UKLA - The Financial Services Authority acting in its capacity as the United Kingdom’s Listing Authority.
20. The Essential NEX Exchange Guide
NEX Contact details
Holland Bendelow are the UK’s
longest established stock market
flotation consultancy, with a
successful track record of advising
UK and International companies.
We specialise in advising the directors and owners of privately
owned pre-float companies considering floating their companies on
any of the UK stock markets, including, NEX Exchange, AIM Stock
Market, and The Main Market. For further information about joining
NEX Exchange, or to arrange a confidential consultation please
contact Holland Bendelow:
Call +44 (0)845 1223415
Visit www.hbcg.co.uk
Holland Bendelow
New Broad Street House
35 New Broad Street
London, EC2M 1NH
Holland Bendelow
Princess Square
Leeds, LS1 4HY
Also satellites in Bristol and Cambridge.
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