Preparing for an IPO - Excellence in Financial Management
Preparing for an IPO - Excellence in Financial Management
Preparing for an IPO - Excellence in Financial Management
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NYIBDF14\200611\08 NOV 2000\2:08 PM\12Time Schedule (cont’d)Pre-Fil<strong>in</strong>g PhaseSEC Review PhaseMarket<strong>in</strong>g PhasePric<strong>in</strong>g, Trad<strong>in</strong>g <strong>an</strong>dFollow-on Support• Due Diligence• Structur<strong>in</strong>g• Valuation• Draft roadshowpresentation• Respond to SECcomments• Pr<strong>in</strong>t <strong>an</strong>d distribute “redherr<strong>in</strong>gs”• Analyst presentation tounderwriters’ sales <strong>for</strong>ces• Probe pric<strong>in</strong>g sensitivity• Determ<strong>in</strong>e appropriatemix of retail <strong>an</strong>d<strong>in</strong>stitutional allocations• Choose co-m<strong>an</strong>agers• Target key <strong>in</strong>vestors• Determ<strong>in</strong>e <strong>IPO</strong> price• Documentation• Position<strong>in</strong>g• File RegistrationStatement• Invitation of underwrit<strong>in</strong>gsyndicate• Sell-side <strong>an</strong>alystpresentation by Comp<strong>an</strong>y• Roadshow presentations• Aftermarket trad<strong>in</strong>g• Clos<strong>in</strong>g• On-go<strong>in</strong>g researchcoverage• Beg<strong>in</strong> development<strong>in</strong>stitutional <strong>an</strong>d retail“books” of dem<strong>an</strong>dMORGAN STANLEY DEAN WITTER14
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