ICFG provides Equity Capital Markets advisory services independently from the investment banks which underwrite public equity offerings (such as IPOs and follow-on equity financings). We advise shareholders and managements of companies to ensure that value is optimized for them in transacting equity offerings in the public markets globally.
We perform a vast array of services before, during and after offerings. Pre-syndication advice includes preparing the company to comply with the appropriate regulations concerning publicly held companies, establishing strong corporate governance practices, assisting in selecting appropriate board members, and advising regarding valuation, the size and structure of the offering, preliminary documentation and messaging and arranging initial meetings with investment banks which could potentially lead an offering.
Additional pre-offering services include the preparation for meeting investment banks and the final selection of the underwriting syndicate and the bookrunner(s), the creation of financial incentives for the underwriters as well as the crafting of the final marketing messaging and overseeing the investor targeting process.
Advice during the offering period consists of monitoring the performance of the underwriters in terms of indications of interest, tracking the quantity of orders, appropriate allocations to investors, pricing and immediate after-market trading.
ICFG is responsible and accountable solely to the issuer where we are free from any conflict of interest that may rise with the underwriters and their institutional and individual client base. The importance of these advisory services independently from the underwriters ensures that the issuer’s shareholders’ interests are best served by attracting and allocating shares to those investors with long-term horizons who will support the shares in the after-market. In addition, this discipline helps minimize the volatility of the shares in initial trading and works toward achieving a fair, but modest premium in the pricing of the shares in the days immediately subsequent to pricing of an offering.
Post-offering services include the continued targeting of new investors, investor relations services and assistance in potential other follow-on financings.
ICFG’s professionals have substantial experience and expertise in advising and leading equity offerings of as large as $8 billion and incorporates many structures (IPOs, follow-on financings, convertible offerings and block trades) in more than thirty countries and stock exchanges.