In the next step, a due diligence is executed. The due diligence comprises an assessment of the economic, legal, tax and financial situation of the company. An analysis is also conducted of its markets, its competitors and growth prospects. The investment banks work together with the company to refine the "equity story" that will serve as basis for the communication concept.
A main focus of work is on preparing the listing prospectus, which is mandatory for public offerings pursuant to the Stock Exchange Act. The purpose of the listing prospectus is to explain the appeal of the company and to attract investors.
The process involves the following steps:
- Beauty contest/selection of the investment bank
- Drafting of an issuance concept and strategy
- Execution of the due diligence investigation
- Drafting of the listing prospectus
- Development of a communication strategy and of communication activities
"Since the going public, our company has been playing in a completely different league in every respect. The media pays more attention to us and this has significantly improved our image among customers, and also when recruiting top staff."
Hans Peter Haselsteiner, former Chairman of the Management Board of STRABAG SE
Details on the initial public offering process
The preparatory phase
The implementation phase
The placement phase
