IPO: A Global Guide (Expanded 2nd Edition)

List of tables and figures 
About the author 
Acknowledgements 
Preface 
Introduction to the first edition 

Part 1: Defining the parameters 
1.1 Going public 
1.2. Listing requirements, equity story and liquidity 
1.3. Selecting the optimal listing location 
1.4. The IPO corporate management team 
1.5. Who does what in an investment bank? 
1.6. Investment banking business titles 
1.7. The IPO banking team 
1.8. Bank roles and the pecking order 
1.9. Pitching for the lead roles 
1.10. Formally engaging investment banks 
1.11. How investment banks get paid 

Part 2: Getting ready 
2.1. Navigating the maze—the working parties on an IPO 
2.2. Strengthening the board 
2.3. The IPO timetable 
2.4. The IPO execution process 
2.5. Due diligence 
2.6. Financial information 
2.7. The prospectus 
2.8. Comfort letters 
2.9. Legal opinions, due diligence reports and disclosure letters 
2.10. The question of underwriting 
2.11. Valuation 
2.12. Institutional investors 
2.13. Retail investors 
2.14. Deciding on an offer structure 
2.15. Depositary receipts and depositary shares 
2.16. Real estate investment trusts (REITs) 
2.17 Business trusts and infrastructure funds 

Part 3: Marketing the deal 
3.1. The importance of sell-side research 
3.2. Presenting to research analysts 
3.3. Briefing the syndicate 
3.4. Pre-deal investor education (PDIE) and setting the price range 
3.5. The management roadshow 
3.6. Bookbuilding 
3.7. Public offerings 
3.8. Employee share ownership programmes (ESOPs)
3.9. Pricing 
3.10. Underwriting and other agreements 
3.11. Allocating a deal 
3.12. Closing and listing 

Part 4: After the IPO 
4.1. Price stabilization 
4.2. Investor relations (IR) 
4.3. Further capital raising and aftermarket transactions 
4.4. Conclusion: What makes a successful IPO? 

Appendices 
Appendix 1: Case studies 
- A NASDAQ IPO: Shanda Games 
- An NYSE IPO: Banco Santander Brasil 
- An LSE IPO: Essar Energy 
- An NYSE Euronext IPO: CFAO 
- A Hong Kong IPO: L’Occitane 
- A Singapore IPO: CapitaMalls Asia 
- A Bursa Malaysia and Singapore IPO: IHH Healthcare
Appendix 2: Business and financial due diligence check-list 
Appendix 3: Table of estimates of IPO fees and expenses 
Appendix 4: Sample contents of an international IPO prospectus 
Appendix 5: Sample risk factors for an international IPO 
Appendix 6: Example of feedback form for investor education 
Appendix 7: Example of manual order form for bookbuilding 
Appendix 8: Initial listing requirements for major stock exchanges 
- Listing in New York on Nasdaq 
- Listing in New York on the NYSE 
- Listing in London on the LSE 
- Listing in Paris, Amsterdam, Brussels, Lisbon or London on NYSE Euronext 
- Listing in Frankfurt on Deutsche Börse® 
- Listing in Zürich on the SIX 
- Listing in Dubai on Nasdaq Dubai 
- Listing in Hong Kong on HKEx 
- Listing in Singapore on the SGX 
- Listing in Kuala Lumpur on Bursa Malaysia 
- Listing in Tokyo on the TSE 
- Listing in Sydney on the ASX 

Notes 
Glossary 
Further reading 
Index