IPO and Capital Markets

IPO, Capital Markets

We support our clients throughout all phases for accessing and staying on capital market, like Initial Public Offering (IPO), reverse take-over (RTO), bond issuing, and public subscription offer (OPS).

In such circumstances we provide:

• Assurance activities for Comfort Letter emission, like: Comfort Letter on working capital (financial due diligence and business plan review), Comfort Letter on Document of Admission (review of accounting and financial position and circuling), Comfort Letter on management control system (verification procedure on reporting system), Comfort Letter on forecasting data and Opinion emission on pro-forma consolidated data.
• Consulting activities like, for example, feasibilities studies on going public, assistance in going public process, assistance in preparing the Industrial Plan, Memorandum on management control system and pro-forma consolidated statement.

Extraordinary finance operations

We support our clients with the purpose of analysing financial statement and accounting documentation of target company.

In such cases we provide:

• Financial due diligence activities aimed at reformulating accounting and financial situations to provide possible buyer with all necessary elements to take decisions in the investment process.
• Assistance in Business Plan preparation and review through analysis of corporate business model and of main assumptions, and implementation of extraordinary operations and provision of Sensitivity Analysys.
• Assistance in preparing pro-forma consolidated statements so as to analyse the effects of merging, acquisitions and incorporations of other companies.
• Purchase Price Allocation activities, so as to allocate purchase price and any accounting impact.

GAAP/IFRS Conversion and SCG

We support our clients in implementing the new accounting principles and in GAAP Conversion.

In IAS/IFRS conversion process, which for many companies represents an important step to a larger internationalization and market opening, we provide our clients with a team of professionals with best knowledge of the impact such process may have, and which uses a customized approach, scheduling the various phases of conversion according to the various needs, as well as to timing and peculiarity of clients In such circumstances we provide:

• Identification activities of balance areas allowing a correct and effective conversion process to International Financial Reporting Standards (IAS/IFRS).
• Assistance to control functions.
• We support clients throughout transformation and evolution of Internal Audit functions, providing co-sourcing and out-sourcing services, aimed at testing the proper functioning of indoor control system and their instruments.