Categories Archives

Public Listing / IPO

The Initial Public Offering (IPO)

Definition: A company’s first equity issue made available to the public. Going public is a monumental decision for any company. It forever changes how a company goes about doing business. A public company has access to more, and often deeper, sources of capital than a private company. The actual process of going public can be time-consuming and presents certain unique challenges that a company should be prepared to undertake. Why do companies go public? New capital. Almost all companies go public ...

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Advantages of Cross Border Listings

Lower cost of capital, expanded global share holder base, greater liquidity in the trading of shares, prestige and publicity are among other the drivers behind firm’s decision to list their shares abroad. In addition, the afore mentioned benefits surpass possible costs that the firm may experience like listing costs, exposure to legal liabilities, taxes and various trading frictions and reconciliation of financial statements with home and foreign standards. Financial Gains Existing regulation in local capital market like taxes, information asymmetry ...

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How to Achieve a Successful IPO

Introduction Moving a privately owned company to a public market will take time and detailed planning is required. In accounting terms the key elements for success are: ►sound and effective financial controls ►timely and accurate management reporting ►an experienced CFO ►IFRS, US or suitable national GAAP compliant audited financial statements ►realistic and supportable financial projections Taxation planning will be required at an early stage for the company and shareholders In commercial terms, a successful IPO candidate must demonstrate Quality, Good ...

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Typical IPO Process and Timeline

Expected Timeline It is important to emphasise that professional advisers play a very important role in a successful listing exercise. It is best that a company applying to be listed appoints a team of advisers who understands the company’s business, its strategic direction as well as the industry in which it operates. The company should also be comfortable working closely with the team of professionals selected to facilitate the listing exercise which can take from 6 months to a year. Here ...

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ACE Market – Bursa Malaysia

What is the ACE Market? The ACE Market which stands for ‘Access, Certainty, Efficiency’ is actually the new name for the formerly known MESDAQ (Malaysian Exchange of Securities Dealing and Automated Quotation) market. MESDAQ came into existence in 1997 when it was the home of mainly technological stocks and today it is replaced by the ACE Market under Bursa Malaysia. The ACE Market was derived together with the unification of the Main and Second Board into the Main Market of ...

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US OTC (Over-The-Counter) Market

What is an ‘Over-The-Counter Market’ A decentralized market, without a central physical location, where market participants trade with one another through various communication modes such as the telephone, email and proprietary electronic trading systems. An over-the-counter (OTC) market and an exchange market are the two basic ways of organizing financial markets. In an OTC market, dealers act as market makers by quoting prices at which they will buy and sell a security or currency. The way OTC is structured allows ...

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AIM – London Stock Exchange

What is AIM? The AIM market (‘AIM’) of the London Stock Exchange plc (the ‘Exchange’) is targeted at growing international companies. AIM is an ideal public market for growing and entrepreneurial international businesses seeking to expand and raise their global profile. As at 31 December 2015, there were 1,044 companies on AIM with an average market capitalisation of £70m. 39 companies joined AIM by IPO in 2015 raising on average £13.6m. Why go to AIM? The reasons AIM companies give for joining ...

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NSX – National Stock Exchange of Australia

Why List on NSX? NSX is an SME (Small & Medium Entreprise) focused listing stock exchange.  NSX offers a unique set of rules, processes, prices and a network clearly suited to SME and growth companies. NSX advantages include: Simple Rules – NSX’s Rules are not only simple but are also principle-based, which dramatically reduces the work required to become and stay listed. Equity Rules on other markets can be three times as long as NSX’s. Shorter and simpler rules and ...

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Catalist – Singapore Exchange

CATALIST: A SPONSOR-SUPERVISED LISTING PLATFORM FOR FAST GROWING COMPANIES On 26 November 2007, the Singapore Exchange Limited (“SGX”) announced the creation of a new listing platform, Catalist. The new board has replaced SESDAQ on 17 December 2007. The first group of sponsors is expected to be announced by January 2008, which is when Catalist is due for initial public offering (IPOs) under the new regime. SGX will establish a pool of quality sponsors and will continually seek to attract local and overseas sponsors ...

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