Our support for companies going public

If you are considering a listing of securities on the regulated market, we can help you to choose the best route to become a public company.

PwC provides support at every stage of the listing process. We provide our services acting either as an advisor to management and owners, or as an independent auditor responsible for providing opinions and comfort on financial information in the prospectus.

Our experience includes local and international offerings, as part of teams comprising investment banks, law firms, auditors, financial advisors and other parties involved in the listing process. We understand the importance of close cooperation with the company and the other advisors, which is essential for a successful IPO.

We possess a broad and in-depth knowledge of the best practices worldwide with respect to public offerings and operating on capital markets.

Our global network of experts enables us to continuously analyse the developments and trends on all markets, which we leverage to benefit our local clients. We do not use universal solutions, but rather apply an individual approach to each situation. Our knowledge and experience allow you to develop the best solutions and practices with respect to operating on the capital markets, tailored to your specific characteristics and needs.

The process that a company must go through in order to become publicly traded requires enhancing the transparency of its operations and developing a long-term business strategy. Our services in support of these activities can therefore add value even if the owners ultimately choose a development path other than going public.

The going public process

• Stage I - IPO readiness assessment
• Stage II - Assistance with developing infrastructure
• Stage III - Technical assistance with the preparation of the public offering
• Stage IV - Ongoing support for the public company

Advisory services provided throughout the IPO process

IPO readiness assessment

• Preliminary analysis of the possibilities and objectives of raising capital through an IPO
• Analysis of the key success factors for an IPO
• Development of a preliminary plan and timetable for the IPO process
• Defining the scope of historical financial information for the purpose of the prospectus
• Tax analysis for the purpose of the IPO and potential pre-IPO restructuring
• Initial recommendations regarding corporate governance and communication with the market

Assistance with developing infrastructure

• Support with the conversion of financial statements to IFRS, US GAAP or other financial reporting standards
• Preparing the company to meet the financial reporting requirements for prospectus purposes
• Tax advisory services throughout any restructuring
• Corporate governance advisory services
• Support with the development or assessment of the internal control system, including the financial reporting process

Technical assistance with the preparation of the public offering

• Assistance with the preparation of the prospectus
• Company valuation for IPO purposes
• Assistance with the identification of the optimum offering structure (including tax issues)
• Analysis of financial instruments from a tax and legal perspective
• Prospectus review for compliance with relevant European regulations
• Training on Polish and European prospectus regulations

Ongoing support for a public company

• Support with current and periodic reporting for public companies
• Advice on compliance with relevant regulations or standards, including the Sarbanes-Oxley Act
• Support with preparing secondary offerings
• Advice on shareholder value management
• Advice on investor relations management
• Advice on creating a tax-effective structure for the financing of business operations
• Development of tax-effective incentive schemes for management and/or for all personnel

Services provided as an independent auditor for companies going public

• Audit and review of historical financial information included in prospectuses
• Public reporting on profit forecasts or estimates
• Public reporting on pro forma financial information
• Reporting on the issuer’s working capital
• Support for other parties involved in the transaction (e.g. comfort letters)
• Due diligence on behalf of the offering bank
• Reporting on the issuer’s financial reporting procedures