Ada Pertanyaan? Hubungi Kami 
2026 Hak Cipta Milik Hukumonline.com
Produk Pilihan
Ada Pertanyaan? Hubungi Kami
Seminar Entitled IPO as an Alternative Method of Capital Market Financing. Photo byL NNP.
Businesses are becoming increasingly interested in capital-market financing and in preparing themselves for Initial Public Offerings (IPOs). A number of factors are involved in any successful IPO process, however the preparation stage is seen as key. The common perception is that the better the preparation, the better the chances of success are.
“Proper preparation as regards a company’s commercial performance, as well as strong investment and well prepared documents, are the keys to successful IPOs,” claimed Mr. Dony Arsal, Director of Mandiri Sekuritas, at a recent discussion event entitled IPOs as an Alternative Method of Capital Market Financing, which was organized by Assegaf Hamzah and Partners and which took place at the firm’s Surabaya Office on Wednesday, 1 June 2016.
Mr. Arsal also elaborated in further detail on the four key factors which he believes are paramount in the success of any IPO.
The first key factor is investment. Companies should prepare impressive and informative company narratives which encompass information on strong company growth, convincing company track records, solid management teams, outstanding business models, good financial records and high-quality business and financial planning. “This information should be presented in an attractive way, otherwise it will not get the attention it deserves. IPOs should be undertaken very seriously,” Mr. Arsal asserted.
The second key factor is an effective marketing program. Companies should be able to reach all of their main potential investors. This can be achieved through intensive and focus-oriented investor targetingand pre-marketing, as well as throughcredible research being undertaken during the book-buildingstage. This will hopefully optimize demand during the offering process.
The third factor is the offering structure itself. Companies should concentrate on sufficient coverage, as well as on reasonable offering prices. This process can be undertaken via effective sales and distribution programs, and also through strong syndicated loan structuring.
The fourth and final key factor in any successful IPO is timing. The launch should be carried out at just the right moment if possible. This is the trickiest part to get right, owing to fluctuations in the capital market. Mr. Arsal believes that companies which engage in IPOs should postpone the whole process if the time is not right or decrease the size of the process if the climate is not good.
Legal due Diligence and IPO Designated Teams
In addition to the aforementioned factors, Bono Daru Adji, Managing Partner of Assegaf Hamzah and Partners, also pointed to another important matter as regards IPOs, namely the preparation of prospectuses and other supporting documents which relate to IPOs.
Mr. Adji explained that prospectuses contain information relating to the legal due diligence process (“LDD”). Technically, any LDD will review and analyze a company’s documents and this is to be followed by a consultation with management and a process of cross-checking with other relevant parties. The aim is to inform the public of the current condition of the company, so that their interests as potential investors are protected. “The LDD must disclose both positive and negative information [relating to the company in question],” asserted Mr. Adji.
Mr. Adji explained that companies must prepare four types of documents at a minimum. The first should be a corporate document, such as the company’s article of association (“AOA”). The second group of documents encompasses corporate licenses, such as any trade permits (“SIUP”) held by the company. The third group consists of asset documents (both moveable and immovable), such as land certificates. The fourth and final type of document is a contract or agreement relating to the company, including agreements between the company and any third parties, or contracts of employment between the company and its employees.
In addition to the above types of documents, Mr. Adji also pointed out that any LDD process must mention any disputes that the company or the management of the company are currently involved in. “If there is a dispute involving the company, then we may engage in further discussions with a team from the company,” asserted Mr. Adji.
During the discussion event, Mr. Arsal also suggested that companies should establish designated and specialized internal teams who are ultimately in charge of the whole IPO process. “If necessary, employees who are placed in charge of the IPO can be discharged from their daily duties for the duration of the process, so that they can focus their efforts solely on the IPO preparations,” Mr. Arsal concluded.
“Proper preparation as regards a company’s commercial performance, as well as strong investment and well prepared documents, are the keys to successful IPOs,” claimed Mr. Dony Arsal, Director of Mandiri Sekuritas, at a recent discussion event entitled IPOs as an Alternative Method of Capital Market Financing, which was organized by Assegaf Hamzah and Partners and which took place at the firm’s Surabaya Office on Wednesday, 1 June 2016.
Mr. Arsal also elaborated in further detail on the four key factors which he believes are paramount in the success of any IPO.
The first key factor is investment. Companies should prepare impressive and informative company narratives which encompass information on strong company growth, convincing company track records, solid management teams, outstanding business models, good financial records and high-quality business and financial planning. “This information should be presented in an attractive way, otherwise it will not get the attention it deserves. IPOs should be undertaken very seriously,” Mr. Arsal asserted.
The second key factor is an effective marketing program. Companies should be able to reach all of their main potential investors. This can be achieved through intensive and focus-oriented investor targetingand pre-marketing, as well as throughcredible research being undertaken during the book-buildingstage. This will hopefully optimize demand during the offering process.
The third factor is the offering structure itself. Companies should concentrate on sufficient coverage, as well as on reasonable offering prices. This process can be undertaken via effective sales and distribution programs, and also through strong syndicated loan structuring.
The fourth and final key factor in any successful IPO is timing. The launch should be carried out at just the right moment if possible. This is the trickiest part to get right, owing to fluctuations in the capital market. Mr. Arsal believes that companies which engage in IPOs should postpone the whole process if the time is not right or decrease the size of the process if the climate is not good.
Legal due Diligence and IPO Designated Teams
In addition to the aforementioned factors, Bono Daru Adji, Managing Partner of Assegaf Hamzah and Partners, also pointed to another important matter as regards IPOs, namely the preparation of prospectuses and other supporting documents which relate to IPOs.
Mr. Adji explained that prospectuses contain information relating to the legal due diligence process (“LDD”). Technically, any LDD will review and analyze a company’s documents and this is to be followed by a consultation with management and a process of cross-checking with other relevant parties. The aim is to inform the public of the current condition of the company, so that their interests as potential investors are protected. “The LDD must disclose both positive and negative information [relating to the company in question],” asserted Mr. Adji.
Mr. Adji explained that companies must prepare four types of documents at a minimum. The first should be a corporate document, such as the company’s article of association (“AOA”). The second group of documents encompasses corporate licenses, such as any trade permits (“SIUP”) held by the company. The third group consists of asset documents (both moveable and immovable), such as land certificates. The fourth and final type of document is a contract or agreement relating to the company, including agreements between the company and any third parties, or contracts of employment between the company and its employees.
In addition to the above types of documents, Mr. Adji also pointed out that any LDD process must mention any disputes that the company or the management of the company are currently involved in. “If there is a dispute involving the company, then we may engage in further discussions with a team from the company,” asserted Mr. Adji.
During the discussion event, Mr. Arsal also suggested that companies should establish designated and specialized internal teams who are ultimately in charge of the whole IPO process. “If necessary, employees who are placed in charge of the IPO can be discharged from their daily duties for the duration of the process, so that they can focus their efforts solely on the IPO preparations,” Mr. Arsal concluded.
(hs/sp)
Seminar Entitled IPO as an Alternative Method of Capital Market Financing. Photo byL NNP.
Businesses are becoming increasingly interested in capital-market financing and in preparing themselves for Initial Public Offerings (IPOs). A number of factors are involved in any successful IPO process, however the preparation stage is seen as key. The common perception is that the better the preparation, the better the chances of success are.
“Proper preparation as regards a company’s commercial performance, as well as strong investment and well prepared documents, are the keys to successful IPOs,” claimed Mr. Dony Arsal, Director of Mandiri Sekuritas, at a recent discussion event entitled IPOs as an Alternative Method of Capital Market Financing, which was organized by Assegaf Hamzah and Partners and which took place at the firm’s Surabaya Office on Wednesday, 1 June 2016.
Mr. Arsal also elaborated in further detail on the four key factors which he believes are paramount in the success of any IPO.
The first key factor is investment. Companies should prepare impressive and informative company narratives which encompass information on strong company growth, convincing company track records, solid management teams, outstanding business models, good financial records and high-quality business and financial planning. “This information should be presented in an attractive way, otherwise it will not get the attention it deserves. IPOs should be undertaken very seriously,” Mr. Arsal asserted.
The second key factor is an effective marketing program. Companies should be able to reach all of their main potential investors. This can be achieved through intensive and focus-oriented investor targetingand pre-marketing, as well as throughcredible research being undertaken during the book-buildingstage. This will hopefully optimize demand during the offering process.
The third factor is the offering structure itself. Companies should concentrate on sufficient coverage, as well as on reasonable offering prices. This process can be undertaken via effective sales and distribution programs, and also through strong syndicated loan structuring.
The fourth and final key factor in any successful IPO is timing. The launch should be carried out at just the right moment if possible. This is the trickiest part to get right, owing to fluctuations in the capital market. Mr. Arsal believes that companies which engage in IPOs should postpone the whole process if the time is not right or decrease the size of the process if the climate is not good.
Legal due Diligence and IPO Designated Teams
In addition to the aforementioned factors, Bono Daru Adji, Managing Partner of Assegaf Hamzah and Partners, also pointed to another important matter as regards IPOs, namely the preparation of prospectuses and other supporting documents which relate to IPOs.
Mr. Adji explained that prospectuses contain information relating to the legal due diligence process (“LDD”). Technically, any LDD will review and analyze a company’s documents and this is to be followed by a consultation with management and a process of cross-checking with other relevant parties. The aim is to inform the public of the current condition of the company, so that their interests as potential investors are protected. “The LDD must disclose both positive and negative information [relating to the company in question],” asserted Mr. Adji.
Mr. Adji explained that companies must prepare four types of documents at a minimum. The first should be a corporate document, such as the company’s article of association (“AOA”). The second group of documents encompasses corporate licenses, such as any trade permits (“SIUP”) held by the company. The third group consists of asset documents (both moveable and immovable), such as land certificates. The fourth and final type of document is a contract or agreement relating to the company, including agreements between the company and any third parties, or contracts of employment between the company and its employees.
In addition to the above types of documents, Mr. Adji also pointed out that any LDD process must mention any disputes that the company or the management of the company are currently involved in. “If there is a dispute involving the company, then we may engage in further discussions with a team from the company,” asserted Mr. Adji.
During the discussion event, Mr. Arsal also suggested that companies should establish designated and specialized internal teams who are ultimately in charge of the whole IPO process. “If necessary, employees who are placed in charge of the IPO can be discharged from their daily duties for the duration of the process, so that they can focus their efforts solely on the IPO preparations,” Mr. Arsal concluded.
“Proper preparation as regards a company’s commercial performance, as well as strong investment and well prepared documents, are the keys to successful IPOs,” claimed Mr. Dony Arsal, Director of Mandiri Sekuritas, at a recent discussion event entitled IPOs as an Alternative Method of Capital Market Financing, which was organized by Assegaf Hamzah and Partners and which took place at the firm’s Surabaya Office on Wednesday, 1 June 2016.
Mr. Arsal also elaborated in further detail on the four key factors which he believes are paramount in the success of any IPO.
The first key factor is investment. Companies should prepare impressive and informative company narratives which encompass information on strong company growth, convincing company track records, solid management teams, outstanding business models, good financial records and high-quality business and financial planning. “This information should be presented in an attractive way, otherwise it will not get the attention it deserves. IPOs should be undertaken very seriously,” Mr. Arsal asserted.
The second key factor is an effective marketing program. Companies should be able to reach all of their main potential investors. This can be achieved through intensive and focus-oriented investor targetingand pre-marketing, as well as throughcredible research being undertaken during the book-buildingstage. This will hopefully optimize demand during the offering process.
The third factor is the offering structure itself. Companies should concentrate on sufficient coverage, as well as on reasonable offering prices. This process can be undertaken via effective sales and distribution programs, and also through strong syndicated loan structuring.
The fourth and final key factor in any successful IPO is timing. The launch should be carried out at just the right moment if possible. This is the trickiest part to get right, owing to fluctuations in the capital market. Mr. Arsal believes that companies which engage in IPOs should postpone the whole process if the time is not right or decrease the size of the process if the climate is not good.
Legal due Diligence and IPO Designated Teams
In addition to the aforementioned factors, Bono Daru Adji, Managing Partner of Assegaf Hamzah and Partners, also pointed to another important matter as regards IPOs, namely the preparation of prospectuses and other supporting documents which relate to IPOs.
Mr. Adji explained that prospectuses contain information relating to the legal due diligence process (“LDD”). Technically, any LDD will review and analyze a company’s documents and this is to be followed by a consultation with management and a process of cross-checking with other relevant parties. The aim is to inform the public of the current condition of the company, so that their interests as potential investors are protected. “The LDD must disclose both positive and negative information [relating to the company in question],” asserted Mr. Adji.
Mr. Adji explained that companies must prepare four types of documents at a minimum. The first should be a corporate document, such as the company’s article of association (“AOA”). The second group of documents encompasses corporate licenses, such as any trade permits (“SIUP”) held by the company. The third group consists of asset documents (both moveable and immovable), such as land certificates. The fourth and final type of document is a contract or agreement relating to the company, including agreements between the company and any third parties, or contracts of employment between the company and its employees.
In addition to the above types of documents, Mr. Adji also pointed out that any LDD process must mention any disputes that the company or the management of the company are currently involved in. “If there is a dispute involving the company, then we may engage in further discussions with a team from the company,” asserted Mr. Adji.
During the discussion event, Mr. Arsal also suggested that companies should establish designated and specialized internal teams who are ultimately in charge of the whole IPO process. “If necessary, employees who are placed in charge of the IPO can be discharged from their daily duties for the duration of the process, so that they can focus their efforts solely on the IPO preparations,” Mr. Arsal concluded.
(hs/sp)