08 Greek Maritime Cluster Research Results Financing
Dimitris Constantinou-Shipping Finance - The IPO (Initial public Offering) Journey
1. The IPO Journey
European Maritime Week
Shipping Finance
23 May 2013
Dimitris Constantinou
Leader of Ernst & Young Global Shipping Network
2. The IPO JourneyPage 2
Overview
► Types of financing
► Bank financing
► Private equity
► Equity markets
► IPO Journey
3. The IPO JourneyPage 3
Initial Public Offering (IPO)
►A journey of transformation from a successful
private company to a successful public
company that continually delivers value to its
stakeholders.
►The IPO event is a component of the value
journey and generally lasts 90 to 120 days,
whereas the value journey usually begins a
year or two before the IPO and continues well
beyond it.
4. The IPO JourneyPage 4
IPO Journey A structured and managed process
Readiness phase
IPO execution phase
IPO realization phase
Building
the right
management
and
advisory teams
Building your
business and
financial
processes
and
infrastructure
Establishing
corporate
structure
and governance
Managing
investor
relations
and
communications
Delivering
an
effective
road show
Preparing
for the
IPO journey
Keeping
your
options
open
Timing
the
market
Attracting
the right
investors
and
analysts
Delivering
on
your
promises
Renew/
re-create
5. The IPO JourneyPage 5
Benefits
► Increased shareholder value
► More capital to sustain growth
► Increased opportunities for
future financing
► Path to mergers and
acquisitions
► Increased credibility with
potential customers, suppliers
and employees
► Enhanced corporate image and
increase employee participation
Obligations
► Keep shareholders informed /
meet expectations
Business operations
Financial condition
Risk management
► Time and money
► Periodic reporting and
regulatory compliance
► Corporate governance
IPO
6. The IPO JourneyPage 6
IPO Journey Transformation
►Organizational change
►Leadership and management readiness
►Transparency/disclosure
►Ownership structure/control
►Delivering on promises
8. The IPO JourneyPage 8
“God must have been a shipowner.
He placed the raw materials far from where they were
needed and covered two thirds of the earth with water.”
(Erling Naess Dekker)