Taking your company public

Once the company is ready to go public and has completed the brainstorming phase for the implementation of organization of an IPO by drafting an exhaustive initial public offering concept, the actual work of preparing the going public starts. The time schedule for going public through Wiener Börse is as follows:

First contact with Wiener Börse

• After preparing a general concept for the initial public offering, the next step is to make an appointment for a personal meeting with Wiener Börse. The company presents its plans and the stock exchange presents the opportunities it offers for achieving a successful initial public offering.
  Experience has shown that the earlier companies ready to go public or interested in doing so contact the stock exchange, the smoother the initial public offering.

• Beauty Contest
  The next step is the selection of a consultant who will accompany the company throughout the IPO and to a certain extent afterwards as well. The selection of the underwriting bank is usually done after a so-called beauty contest at which banks and underwriters present their proposals for the IPO of the company concerned. The choice is up to the company.
• Due Diligence
  Together with the underwriting bank, a due diligence is conducted, i.e., an examination of the company regarding its legal, financial and commercial aspects. 
• The legal due diligence includes an examination of the company’s major contracts, liabilities, patents and other legal facts.
• The commercial due diligence contains an analysis of the individual fields of business, market position, development strategies and organization, human resources, management, etc.
• The financial due diligence examines the financial statements, auditors’ reports, investment planning, etc.
• Public relations strategy
  It is of particular importance for listed companies to maintain good relationships with analysts, and with the general investing public. For this reason, it is necessary to define a comprehensive public relations and investor relations strategy before the initial public offering.
• Listing prospectus
  The preliminary listing prospectus is drafted jointly by the underwriting bank and, if given, external consultants. In this context, the legal requirements of the Stock Exchange Act and of the Capital Market Act are of relevance.

Content of the listing prospectus

• Information on the share capital and the shares
• General information on the issuer and its capital
• Information on the business of the issuer
• Information on the assets, financial and earnings situation of the issuer
• Information on the administration, management and supervision of the company
• Information on recent business developments and the business prospects of the issuer

• Book Building
  During the book-building phase, investors have the opportunity to submit bids for buying the shares at prices that must be within a defined range. At the same time, marketing activities are usually undertaken to draw the attention of potential investors to the possibility of subscribing to the shares (these may include roadshows, press conferences, etc).
  After the book-building phase, the price is fixed and the shares are allocated.
  The next step is the publication of a supplement to the listing prospectus, indicating the price of the share, proceeds raised through the issue and issuing costs..

• Trading on Wiener Börse
  Trading in the stocks of your company is the culmination of a successful initial public offering. The goal is to communicate the advantages of this investment in a transparent and open manner to the new shareholders on a regular basis.