• EMAARDisclosure of the Company regarding the pricing of shares of Emaar Development PJSC (under conversion)
  • AMANATResults of BOD meeting held by circulation
10:00
01 january 2014
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IPO Services

Details
  • Going public is a strategic decision that can bring significant advantages to your company and provide long term solutions to flexible capital-raising and organizational development.  Companies which go public, have the ability to stay ahead of the competition through the development of sound business strategies which are backed by solid financial plans, particularly if you are a family business this step can ensure long term sustainability of your family-owned business for generations to come. 
  • The DFM can manage the company's Initial Public Offering / Rights Issues through our automated electronic IPO subscription platform which has been fully integrated with participating banks. The service enables investors to subscribe to the companies' public offering available through eIPO platform via the DFM website (for iVESTOR cardholders only), or by electronically completing subscription forms that are available on the website, printing and submitting them to the respective receiving banks. 

For more information on this service, please contact:
DFM Financial Services
T: +971 4 305 5319
E: FinancialServices@dfm.ae


Fees
Kindly contact DFM Financial Services:
T: +971 4 305 5319
E: FinancialServices@dfm.ae

Procedures
  • Pre IPO
  1. Commit and dedicate your time as the company owner for the IPO planning. 
  2. Assign an IPO project manager supported by a strong management team.
  3. Engage DFM, regulators and advisors early in the process.
  4. Assess the company's readiness based on existing reporting systems, internal controls and processes.
  5. Review the current Articles of Association (AOA) and manage legal and shareholding matters, if any.
  6. Add new founding members before going public, if required.
  7. Appoint independent Non-Executive members to your Board, if required.
  8. Select an official Lead Advisor after exploring various proposals.
  9. Set an IPO target deadline and avoid disclosing until the next stage of the IPO
  10. Important Tip: Save time and effort by obtaining an initial approval from the Regulator by submitting a letter of intention to go public, a company profile and business strategy, along with the last two years' financial reports.
  • During IPO
  1. This is the most critical step for a successful IPO transaction and requires a project management matrix which includes all parties related to the implementation. In addition to filing the IPO documentation to the regulator, as well as the valuation and price discovery process, you should be working on the equity story and attracting investors. For this you will need an Investor Relations Manager, a CFO and a strong internal or external corporate communications team to communicate regularly and consistently with key market audiences including investors, financial media, analysts and regulators. Below are some major steps you will need to undertake:
  2. Advisors prepare a feasibility study and a due diligence and asset valuation report.
  3. Agree the pricing methodology for share valuation (fixed price or book-building).
  4. Advisors will draft a prospectus with supporting documents.
  5. Finalize AOA, contracts and other legal or financial documentation required.
  6. Shareholder declarations required for regulators.
  7. SCA will provide the initial acceptance letter to carry out the IPO.
  8. Price discovery process and roadshow for investors for book building strategy
  9. Subscription period, allocations and refunds are managed. 
  10. The DFM can manage the company's Initial Public Offering / Rights Issues through our automated electronic IPO subscription platform which has been fully integrated with participating banks. The service enables investors to subscribe to the companies' public offering available through eIPO platform via the DFM website (for iVESTOR cardholders only), or by electronically completing subscription forms that are available on the website, printing and submitting them to the respective receiving banks. 
  11. First General Assembly Meeting takes place.
  12. PJSC status published in the official Gazette and registered with SCA. 
  13. DFM listing application submitted and commence trading. 
  14. Important tip: There are IPO documentation templates including a prospectus template available on the SCA website for the IPO application. Furthermore, DFM offers an eIPO platform for swift online IPO subscriptions. 
  • Post IPO
  1. Most importantly once the company has gone public, it must focus on regular market updates as per the disclosure rules and maintain regular communications with investors, analysts, and the financial media through a well-established Investor Relations unit.
  2. The main areas to focus on as a listed company are as follows:
  • Meeting regulatory reporting and disclosure requirements.
  • Investor Relations (IR) function and practices as stated in the DFM IR Guide.
  • Corporate communications and management of announcements and financial media (More information in the DFM IPO Communications Guide).
  • Annual General Meetings and corporate actions through DFM Financial Services
  • Maintain visibility amongst investors and brokers.
  • Important Tip: DFM offers a wide range of issuer services that support your investor communication efforts including eFSAH, eSAR and XBRL. See DFM Issuer Services.

Required Documents
Sign Triparty Agreement for System and Information Access Agreement between DFM, Lead and Receiving Banks.


How to Apply?
Contact DFM Financial Services at T: +971 4 305 5319, or E: FinancialServices@dfm.ae