Successful börsegang (österr.) requires very careful preparation, an effective understanding of investor expectations and business principles, alignment with stakeholders and entry in the market at the correct time. It also needs robust systems for fund and accounting activities (documentation, reporting, consolidated financial see this page statements, cash access, supervision expenses etc) and a solid infrastructure that helps all regulating requirements.
In addition, it takes confidence and unflappable leadership. Creators need to be capable to navigate the company through the IPO procedure and then lead it right into a long-term sustainable, publicly traded venture. This may not be the skill set that lots of entrepreneurs own acquired from beginning a successful startup company and growing it in to an established business, but it is what is necessary to make a successful ipo.
An excellent going public also requires a realistic valuation. It may reflect the company’s relative value to it is peers, nonetheless also provide a possibility for shareholders to achieve a good rate of return following the IPO. It may not always be overly impressive as that wont provide the main market with enough time to fairly measure the assets available.
The BÖRSEGANG (ÖSTERR.) process commences with a series of conferences, known as ‘roadshows’, during which the management group pitches the business to buyers and potential underwriters. The process of ‘book building’ then follows, where underwriters gather offers from potential institutional traders and decide the number of stocks and shares that will be obtainable during the BÖRSEGANG (ÖSTERR.). Once the giving has been costed, the shares are unveiled for the market and trading commences.