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Winning CFOs: Implementing and Applying Better Practices, with Website by David Parmenter

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CHAPTER 27

Listing on the Stock Exchange

Having firsthand experience of how to list a company on a stock exchange will undoubtedly add many zeros to the bank balance of those lucky CFOs who have had this opportunity. Listing a company on a stock exchange should be done from a position of strength. Being at the mercy of the advising investment bank and chief underwriters is not only costly but an exercise that will not always end up with a happy outcome. CFOs need to learn from their peers who have already walked over the red-hot coals.

Gather Useful Experiences

If ever a CFO needed experience before undertaking a task, this is it: taking a company onto a stock exchange. The handling of this activity requires a confidence that is acquired from prior experience.

Ideally a large private company would seek a CFO who had already handled one or two floats successfully. If, however, you are in the position of doing this for the first time, consider these suggestions:

  • Network with CFOs who have been successful in this area. It is easy to get their guidance once you have massaged their ego. Successful people often find time to share their success with others.
  • Get yourself a mentor or two who have been there and done it. Someone who has retired is ideal as you may be able to call on his or her assistance in the myriad of important meetings you will have. Sometimes there may be a fee, but it will be a fraction of the exorbitant fees that investment bankers charge.

Selecting the Advisors

Sometimes ...

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