Cross-Border Listings: A guide for technology companies examines key factors to consider when assessing stock exchange listing options, such as the ability to meet listing requirements, the regulatory environment for the industry, the presence of peer companies, access to an investor base, and post-listing obligations and costs. The publication highlights international stock exchanges in Australia, Hong Kong, London and New York — all of which have been especially active in cross-border capital raising for the technology industry in recent years.
The guide also explores the key issues that peer companies usually have concerning their prospectus disclosures, due diligence and employees. It also provides insights on what technology companies should prepare for their capital raisings.
If you are considering an IPO for your technology company, here are some tips for a successful listing:
• Prioritize your goals for the listing. For example, are you seeking access to a broader investor base, greater visibility among technology industry peers or another goal?
• Consider the likelihood that a particular exchange can meet those goals.
• Analyze the trading price and volume of comparable technology stocks on the exchanges you are considering.
• Critique any timetable provided by an adviser, exchange or other third party to confirm that it is realistic.
• Understand the liability risks of listing on a particular exchange.
• Quantify all initial and ongoing costs associated with a particular exchange. These can include, for example, initial listing fees, annual fees, ongoing disclosure costs and other compliance-related costs.
• Seek an exchange where investors are familiar with other companies in the technology industry.
• Choose financial, legal and accounting advisers that have technology industry knowledge and on-the-ground experience with local and international aspects of listing on a particular exchange.
Download your copy of the guide from Baker & McKenzie’s Cross-Border Listings: Industry-specific guides page.