A Guide to Listing in Australia

Many active, successful private companies consider an Initial Public Offering (IPO) at some stage in their development as a route to accelerate growth and to open up new opportunities for the business. In addition, foreign companies may look towards an ASX listing to access the Australian capital markets, and private equity investors may work towards an IPO as an exit mechanism for their investment.

Regardless of the stage in the company’s growth, it is important for the directors and owners of such businesses to weigh up the pros and cons of a listing (given the cost and increased regulatory burden of doing so), consider alternative methods of achieving their goals and understand the IPO process in advance of taking this significant step.

This guide is designed to assist companies in making an informed decision as to whether to seek a listing and to demystify the IPO process. The guide outlines: The key steps and a suggested timeline for the IPO process. The advantages and disadvantages to listing. Tips for building the right team to guide the process. The due diligence process in the lead up to listing and continuing obligations post-listing. Tips for preparing a prospectus and in framing the offer.  The potential liabilities for directors. The role of ASIC and ASX.