Initial public offerings | Deloitte Papua New Guinea | Financial Advisory services has been added to your bookmarks.
Initial public offerings
Deloitte has successfully advised a significant number of companies in the raising of equity capital, including advising on and coordination of securities exchange listings and undertaking the Investigating Accountant’s and structuring role on due diligence committees.
Going public can be an extremely long and complex process and can absorb a significant amount of management’s time. A number of times these processes are ultimately unsuccessful. Our experience as Investigating Accountant on a number of recent significant listings in Australia enables us to promptly identify issues that would typically cause an IPO to be delayed or abandoned or result in value being eroded.
Deloitte’s Transaction Services team has extensive experience in assisting companies through IPOs, rights issues, private placements and other debt and equity raisings requiring the preparation of an Investigating Accountant’s Report (IAR).
An IAR involves an independent review of a company’s historical and projected financial information along with the assumptions and material accounting policies adopted applicable to the information. The purpose of the IAR is to support and provide credibility to the financial information included in a prospectus or other public disclosure documents.
Trusted, independent advisor
With the benefit of significant experience on various listing processes, we are also able to offer impartial advice in relation to:
- Prospectus documentation including the content, structure and format of disclosure
- Assistance in collating pro forma historical and forecast financial information
- Active participation on the due diligence committee
- Advice on corporate governance including board structure
- Input into capital structure and pricing
- Liaison with lead managers, lawyers, the corporate regulator (ASIC) and stock exchanges
Our Corporate Finance team can also assist you in the preparation of the disclosure documents (prospectus/PDS) and investor presentations, advise on optimum timing, take you through regulatory compliance and procedures, and project manage other advisors.
Tax plays a key role in a successful IPO process to determine an appropriate listing vehicle and structure – both from an internal operational and external investor perspective. Our M&A Tax specialist team has significant experience in developing tax effective IPO structures for existing and future shareholders. Key areas of focus typically include pre-IPO dividends and franking forecasts, debt and capital structures, opportunities to ‘step-up’ the tax cost base of assets and tax rollover for continuing shareholders.