The length of time it will take a company to join the Main Securities Market is influenced by many variables – such as the size and structure of the company, the method of flotation being used, and the complexity of the due diligence process which must be conducted by your advisors.
It can often take up to three years for a company to fully prepare itself for flotation. However, the flotation process itself generally starts around six months before the expected date of admission to the Main Securities Market.
|Pre-float preparation (from 36 to 6 months before admission) |
|36 – 24 months||Develop a robust business plan and a detailed review of ownership and tax issues, customers/supplier contracts, management information systems and operational and compliance controls. |
|24-12 months||The business educates itself on what a Main Securities Market flotation involves, reviews its corporate governance, and completes any strategic initiatives or acquisitions.|
|12-6 months||Develop an investor relations strategy and ensure the necessary financial statements and non-executive directors are in place. Decide on the method of flotation and interview potential advisors. |
|The admission process (from 6 months before admission)|
|6-3 months||Appoint and instruct advisors (corporate finance; broker; legal; accountant; PR) and agree on the timetable. |
|12-6 weeks||Company and its advisors review pricing issues, host analyst presentations and produce drafts of key documents − including the prospectus. |
|6 weeks - 1 week||ISE reviews all listing and admission documents. The Central Bank of Ireland reviews the prospectus. The company and advisors complete their due diligence, hold PR meetings and analyst road shows. |
|1 week - admission||Prospectus is approved by the Central Bank of Ireland. The company makes its formal application for listing and admission to the Main Securities Market to the ISE. |
|Admission||Securities are admitted to listing on the Official List and trading on the Main Securities Market of the ISE.|