Extraordinary Financing and Stock Exchange Listing
Extraordinary Financing for growth
A company can pursue a strategy of value creation through external growth fuelled by acquisitions, thereby accelerating corporate development in terms of size, financial results and the creation of shareholder value.
An acquisition operation allows a company to access new markets, new products or new production processes. An acquisition operation may involve a company’s entire share capital, or a majority or minority shareholding, or a company branch.
Consimp’s role
The professional staff of Consimp handle the three essential steps of development through external growth strategies and in particular:
- “Due diligence” activities (financial and tax due diligence) in relation to acquisitions (or disinvestment) of companies, mergers and other operations that entail changing the shareholding structure;
- Preparing multi-year economic and financial plans drawn up either on a voluntary basis or in compliance with legal requirements (e.g. for mergers pursuant to art. 2501 bis);
- Preparing prospectuses to acquire (or divest) shareholdings or business branches, search for new shareholders, raise capital, and request financing.
Stock Exchange Listing
Choosing growth and value creation
Growth and value creation entails dealing with phases of discontinuity. By listing, a company can finance growth, improve customer and supplier relations, facilitate generational hand-overs, attract qualified resources, promote internationalisation and demonstrate its worth.
Who can be listed?
To attract investors’ interest a company must have value creation as its key feature, a strategy outlined in a business plan, a good market share, a good business and financial position and an organisation run by a first-rate team.
The listing process
For listing purposes it is necessary to prepare the company by improving its organisation and operating methods, by adopting international accounting standards for a screen-based market (Italian accounting standards are sufficient for an AIM market) and by drawing up a business plan.
After preparatory activities the company will undergo due diligence and investigation by the Italian Stock Exchange and Consob (no investigation is needed for an AIM listing) before final listing. The minimum time for listing is usually between 6 to 8 months for a screen-based market and 3-4 months for AIM Italia.
Consimp’s role
Consimp’s professional staff have acquired considerable and exclusive experience in the listing procedures that have taken place in recent years in the Veneto Region. The firm can help the company (and the sponsor/nominated advisor) in the transition from national to international accounting standards (mandatory for a screen-based market), with the necessary tax due diligence and by drawing up a business plan, preparing a prospectus/admission document, and, endorsing some of the data included in the prospectus/admission document.