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How
we help you go public
You can
readily rely on us to help you determine when you are ready to go
public.
If you are ready we will also prepare your company to go public,
help you
decide where you should list, and the procedures you need to
follow.
Whether
you want to go public within New Zealand or international we will
help you
with all aspects of preparing for listing, starting with a “due
diligence”
and “warrant of fitness” review of your company.
We will
help you build your board, plan the communications strategy, and
advise
on internal processes, as well as assist with all the regulatory
requirements
through to the ultimate distribution to investors. We give you
the
benefit of our experience and will take care of everything for you.
That way
you can focus on the most important thing- building your business.
Purpose
of “going public”
Going
public on the stock market can facilitate raising capital for growth and
help you
to expand. Going public can also enhance your company's public
profile
and build credibility with customers, suppliers and staff.
Which
exchange to go public on?
We will
help you determine when, where and how to take your company
public.
A lot depends on the size of your company, where you do business
and what
the outcomes you desire are. To go public in the USA your
company
should be very big. To give you an idea, a NASDAQ listing would
require
you to have a minimum capitalization of US$200M.
On the
other hand if you wish to go public within NZ, you can choose from
the NZSX
or the NZAX. For you to take your company public on the NZSX
you
would need a market capitalization of $30M and look to raise an
additional
$20M. The NZAX is designed for smaller companies and the
compliance
costs are a lot lower.
What
you will need to take your company public
You need
to realize the costs and responsibilities of operating a public
company
are substantial. We will help you make sure that you are stable
enough
and have the right board and management team to make this a real
success.
You will also need to develop and maintain the right public image
and
brand name. Then when we take you public you will have all the
resources
you need to make a go of it.
If you
are not ready yet we will get you ready.
GOING
PUBLIC TIMETABLE
The
run-up to going public flotation is generally described in terms of a
timetable
counting down to admission. The following timetable outlines the
steps
usually taken during each period.
•Pre-float
preparation
•The
listing process
•Admission
week
Pre-flotation
preparation
24-36
months before admission
•Apply
to become a client of Kiwi Growth Partners Ltd
•Develop
a robust business plan
•Ensure
contracts are in place with customers/suppliers
•Review
management information systems and operational and compliance controls
•Consider
ownership and tax issues
12-24
months before admission
•Adopt
'best practice' corporate governance standards
•Complete
any strategic initiatives such as acquisitions
6-12
months before admission
•Consider
your investor relations strategy
•Ensure
independent audited financial accounts, if applicable, for 3 year period
•Consider
commissioning an independent expert's report
•Make
any necessary changes to the executive board
•Appoint
non-executive directors
•Ensure
company is incorporated under relevant laws
•Consider
pre-flotation fundraising
•Decide
on method of flotation
•Hold
a beauty parade of advisers
The
listing process
12-24
weeks before admission
•Appoint
advisers
•Instruct
all advisers
•Agree
timetable
6-12
weeks before admission
•Review
problem areas
•Produce
draft prospectus
•Produce
other documents in first draft
•Initial
review of pricing issues
•Review
PR presentations
•Host
analyst presentations
1-6
weeks before admission
•Continue
drafting meetings
•Carry
out due diligence
•Hold
PR meetings and road show
1
week before admission
•All
documents completed and approved
•Pricing
and allocation of the offer
•Register
prospectus
•Sign
subscription agreement
•Bulk
print final prospectus
Admission
week
•Pay
Exchange fees
•Admission
to Exchange granted
•Trading
begins
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