A telecommunications company had decided to go public. The listing was scheduled to take place after just 10 months. The company already had a segment reporting system in place. However, all other legal requirements for an initial public offering (IPO) had not been met. The interim manager was therefore entrusted with ensuring all preparations for the company's capital market readiness.
Capital market office set up within a few days
The interim manager took up the mandate a few days after being contacted. He immediately began to set up a capital market office within the company, which was responsible for fulfilling all key requirements in connection with the stock market listing. He managed the short-term conversion of the company into a stock corporation.
Requirements for IPO successfully fulfilled under high time pressure
A large number of preparatory measures had to be implemented under high time pressure. These included the creation of corporate governance suitable for the capital market, the creation of the legally required reporting structures (ad hoc publicity, directors' dealings) and an insider list. The interim manager closely involved the supporting service providers (including a consultant bank, banking consortium, auditors, lawyers, software solution providers) and coordinated the preparatory measures. The work was carried out in close coordination with the internal Investor Relations and Legal departments.
Comprehensive advice to the Management Board and Supervisory Board on the stock market listing
The interim manager advised the company's decision-making bodies on the additional requirements that needed to be taken into account for a stock market listing. He trained the members of top management on this and prepared their committee meetings and resolutions on these points. He was responsible for the overall coordination of all internal and external parties involved and monitored the timetable and action plan for implementation. He was also responsible for the listing process and supported the preparation of the listing prospectus by an external law firm.
Successful IPO
Thanks to the intensive cooperation of all parties involved, the company was ready to go public after 10 months. The listing was granted. However, due to the general market environment, the decision-making bodies decided to postpone the IPO by a few weeks. On this date, the IPO was successful.
The expertise and drive of the interim manager made a significant contribution to professionally preparing the company for the capital market and its legal requirements within a short period of time.
Continuous compliance with capital market requirements
The interim manager also laid the foundations for the future continuous work of the capital market office. The legal requirements not only have to be fulfilled once, but must also be observed on an ongoing basis during the listing. The interim manager therefore trained a successor as Head of the Capital Markets Office and was available to her and the management for further consultations.
