BCGは企業とIPOプロセス全体で連携し、価値と利益を向上し、複雑性を抑制し、親会社と新会社の双方が資本市場で成功を実現できるよう後押ししています。
BCG brings a holistic, end-to-end perspective to the IPO process. Our IPO consultants help optimize IPO proceeds while delving into every facet of an offering. IPOs are highly complex transactions that can involve numerous interlocking business, financial, and legal details. From initial rationale to post-separation technicalities, we work to advance each company’s prospects and market leadership.
IPOs don’t always deliver value. Our research shows that three out of ten IPOs with more than $500 million in annual revenues fail to outperform the market in the first year; this rises to about 50% for smaller IPOs. BCG’s IPO consulting services help clients navigate the demanding deal process while maximizing returns and long-term value.
Before the process starts, we help you develop the overall IPO strategy by defining the deal rationale and the right perimeter (or scope), and assessing the value potential for the company, potential investors, and existing shareholders.
We can also deploy a thorough readiness assessment, identifying any gaps and helping you close them quickly and efficiently ahead of the IPO.
We focus on creating a powerful, integrated IPO equity story to demonstrate expected value creation through a combination of growth, cost reduction, and improved cash flow. Only by shaping the right equity story can companies meet funding targets and tread a successful path in the market.
We help build a detailed, investor-proof business plan supporting the value creation story. A deeply substantiated and sufficiently ambitious plan, backed by clear proof points, provides a strong basis for investor and analyst guidance and communication.
We enable you to continue running your business without distraction and manage complexity across stakeholders, from markets and existing shareholders to employees and advisors. No matter how high your IPO launch-day proceeds may be, an offering is only as successful as the business—or businesses—you’re left with after the stock exchange’s closing bell rings.
Every BCG engagement begins with a deep exploration of your business. From there, we launch the IPO process by examining whether an IPO is in fact the best option. A private sale to another industry player, known as a trade sale, or to a private equity firm may be preferable or equally promising.
IPO planning often takes place in parallel with a carve-out process, separating the target entity from its corporate parent operationally and financially. Like IPOs themselves, carve-outs typically are large-scale, high-stakes projects involving complex activities and a multitude of details.
Once a company has decided to pursue an IPO, the real work begins. While IPOs can happen in as few as 6 months, 12 to 18 months is a more realistic timeline to ensure the company is well prepared for its journey as a publicly listed entity.
Our comprehensive, proven approach divides the IPO runway into three phases: conceptualize, prepare, and execute–each aiming to improve the chances of a successful IPO.
Throughout the IPO process, BCG challenges management to take the investors’ perspective and helps find solutions to the following questions:
Jens Kengelbach
The technology industry is the fastest-growing sector for IPOs. It also faces significant risks, especially in an uncertain economy. To stand out in a competitive, often volatile tech IPO market, tech startups must offer investors compelling evidence of their potential for long-term success. Together with BCG’s growth tech experts, our tech IPO consultants offer a unique combination of expertise and experience in launching IPOs for tech companies. This tailored, holistic understanding has allowed BCG to play a significant role in supporting the growth tech sector in hundreds of successful cases.
Though it may seem counterintuitive, today’s adverse capital market conditions are an ideal time to lay the groundwork for an initial public offering.
Issuers can benefit from onboarding a respected player to support their public offering. Success requires careful planning and well-executed negotiations.
IPOs offering only existing shares outperform those seeking fresh capital due to the signaling effect associated with a public listing.
The frenzy surrounding special-purpose acquisition companies has faded. But with hundreds facing a merger deadline, private companies could strike a favorable deal that takes them public.
