Main Conference
Day One Agenda: July 23, 2008.
8.15am Registration
8.45am Welcome address from Chairperson
Sebastian Stevens, director, BDO Kendalls Corporate Finance
9.00am Structuring an IPO: The ASX listing process made clear
Launching on the ASX takes time and diligence. Eddie Grieve, manager listings and capital access from the ASX, discusses the advantages of listing on the ASX and outlines key aspects of the listing process.
- Understanding the ASX listing criteria
- A step by step guide to the listing process
- Operating as a listed company
Eddie Grieve, manager listings and capital access, ASX
9.45am Managing the IPO Due Diligence Process
- The Due Diligence Committee
- Advisors and experts
- Preparation of a Prospectus
- Managing the IPO Process (while the CEO manages the business!)
- Director's Due Diligence Defence
- The timeline, cost and IPO process
John Diddams, principal, Advisory Services CPA
10.20am Morning break and networking
10.45am IPOs in an economically sensitive environment
PANEL DISCUSSION
Moderated by: Zoran Radosevic, partner, BDO Kendalls Corporate Finance
As 2008 dawned, the world's economy was rocked by waves of bleak economic forecasting. Four leaders in the IPO space discuss the ramifications of a potential recession on your IPO. This session answers your concerns:
- What effect does the global economy have on your IPO?
- Creating a competitive market position for your IPO launch: pre-launch buzz
- What precautions can you take to reduce the risk of your IPO underachieving?
- Discovering the alternatives to an IPO in a pre-recessionary economy
Panelists:
Sherif Andrawes, director, BDO Kendalls Corporate Finance
Meredith Paynter, partner, Mallesons Stephen Jaques
Paul Stephenson, partner, Home Wilkinson Lowry
Robert Allan, managing director, Allomak
11.30am Succession strategies: How to exit your business without floating
You've just spent the better part of your life building a successful business, and you're ready to retire. So what do you do? How do you go about exiting your business? Do you sell, do you hand-pick a successor, do you launch? This session examines some key elements you need to consider before making a final decision on how you leave your business.
- Short and long term benefits of exit planning
- Separating your identity and the business identity
- Understanding the benefits to your business:
- Higher profit
- Higher efficiency
- Peace of mind
- Clearer business focus
- Sourcing ready-to-invest investors to buy your business and continue your legacy
Andrew McKenzie, managing director, Shirlaws
12.30pm Networking luncheon
1.40pm Practical insights into the IPO process
WORKSHOP
This 35-minute workshop takes you through practical discussions and applications on what is involved in your IPO launch. Presented by William Bass, this workshop explains the complex problems involved in an IPO and how to overcome them.
Topics to be discussed include:
- Your overall expectations of the IPO
- Long and short term goals
- The right advisors: benefits of commissioning experienced advisors
- Marketing your float: the role of PR & communication advisors
- The costs of listing: pre and during the IPO process
- Internal changes to the company structure
William Bass, Managers & Directors
2.15pm Sponsored session by IPOSoft
2.45pm One-on-one with Paul Lahiff
Paul Lahiff is one of Australia's most well-respected general managers. Presiding at the helm of Mortgage Choice, Paul launched the mortgage broking giant onto the ASX. Listen as Paul recounts his experiences of taking Mortgage Choice from a privately held company, to the country's stock exchange. This interview will cover areas including:
- Behind the scenes of the first mortgage broker to go public
- Keeping the business running smoothly during the pre-IPO space
- The lead up to the IPO: Prospectus, advisors and the general public
- Selection of committees, boards and advisors:
Paul Lahiff, managing director, Mortgage Choice
3.15pm Afternoon break and networking
3.35pm Analysing the International Captial Markets Survey.
Jointly conducted by DLA Phillips Fox and DLA Piper, the survey, released in March 2008, is a first of its kind, basing its findings on interviews with key financial decisions makers from 167 lilsting coporates and 33 investments banks around the world.
-Understanding the key findings of the DLA Phillips Fox international captial markets survey
-Highlighting the long term projections for the future market outlook
-Monitoring corporate response to the findings of the survey
-Examining how private equity will respond to current market concerns
-Reviewing the role of emerging markets and the role they will play during long-term economic recovery
-Offshore primary listings and the projecting benefits to the influx of asian listings on the ASX
David Moriss, corporate practice group leader, DLA Phillips Fox
4.05pm Effective management of cross border-IPOs
With global capital markets becoming increasingly accessible, understanding and managing cross-border IPOs are important considerations for companies looking to raise funds. Here we analyse:
- Pro-forma forecasts and normalisation adjustments
- Specialised US requirements - 144a, comfort letter
- Performing and disclosing sensitivity analysis
- The role of the due diligence committee
- Benchmarking Australian requirements with other major markets
Steve Shirtliff, partner, Deloitte
Ian Turner partner, Deloitte
4.40pm Pricing the float
How much are our shares worth? This session gives you the practical insights into pricing your IPO
- Competing interests
- Getting the price right - commonly accepted methodologies
- Traps and pitfalls
- Valuation of employee shares and options
Manda Trautwein, director, VMC Global
5.10pm Wine reception
Day Two Agenda: July 24, 2008.
8.15am Registration
8.45am Keynote opening address
Doug Meredith, director, BDO Kendalls Corporate Finance
8.50am Welcome address from Chairperson
Reuben Buchanan, director, Integral Capital Group
9.00am Navigating small to medium sized IPOs
PANEL DISCUSSION
Moderated by: Michael Smith, director, BDO Kendalls Corporate Finance
The majority of IPOs in 2007 were for small to medium sized companies
with market capitalisation of $3-10m. This comprehensive panel
discussion covers:
- Considerations of technical issues involved in launching an IPO for a SME
- Explaining key differences of launching SME
- Examining the challenges and risks associated with an SME IPO
- Reviewing the process of raising capital without institutional investors
Panelists:
Neil Carter, small cap portfolio manager, Macquarie Funds Management
Phillip Shamieh, managing director, Wise-Owl.com
Paul Walton, project manager corporate actions, Computershare Investor Services
Steven Sorbello, partner, BDO Kendalls Corporate Finance
Grant Hummel, partner, Home Wilkinson Lowry
Cameron Jorss, partner, Carter Newell
9.45am Aftermarket support: Small cap launches
Small companies can flounder in a sea of small caps with poor liquidity and struggling share price simply because no one knows about them. This session covers what is needed to support your small cap IPO and make the most of the market, as well as some common areas of concern for investors.
- Getting your name and company into the public arena
- Overcoming investor concern of illiquidity
- Understanding the higher return ratio
- Lack of information: examining the lack of available research
- Trading costs explained
Phillip Shamieh, managing director, Wise-Owl.com
10.15am Morning break and networking
10.35am Launch: The history of an IPO launched by the youngest CEO in Australian corporate history
CASE STUDY
In 2000, Destra launched itself onto the ASX. Ahead of its time, Destra, a digital media company, has continually redeveloped itself over the past eight years. Listen as the youngest CEO in Australian corporate history tells you how he did it.
- Launching a dotcom IPO
- Adjusting your business plan and creating a sustainable business
- The cyclical nature of business
- The rise and rise of Destra
Domenic Carosa, CEO, dominet
11.10am The year in review
2007 was an extremely successful year for Australian IPOs with over $6bn raised by the top 10 floats alone. Their successes, challenges, opportunities and the forecasted success for the 08/09 financial year are discussed in this session.
The session delivers an understanding on:
- Why these launches were the most successful of 2007
- Challenges and opportunities faced during their IPOs and how they were overcome
- Implementing their knowledge in your own IPOs
- Predictions and forecasts for the 08/09 financial year
James Green, executive director, Austock Corporate Finance
12.00pm Preparing for an IPO: Tax and legal issues
Preparing a company for an IPO raises a number of tax and legal issues. This session provides detailed information on:
- IPO tax structuring and related issues
- Capital gains tax
- Sell downs and stamp duty
- Choice of float vehicle and related structuring issues
- Regulatory environment for listed entities
- Restructuring pre-existing arrangements
- Ownership of business/assets
- Whole or partial exit and offer structures
- Conversion into a public company
Shannon Finch, partner - M&A, Mallesons Stephen Jaques
Meredith Paynter, partner - M&A, Mallesons Stephen Jaques
Justin Cherrington, partner - Tax, Mallesons Stephen Jaques
12.40pm Networking luncheon
Hosted by: Greg Dooley, managing director, Computershare Investor Services
1.40pm Venture capital and business growth: Is IPO the right capital raising venture for your company?
CASE STUDY
An IPO brings with it many benefits: public exposure, increased revenue, to name a couple. But it also brings added costs, public scrutiny, stakeholders, ongoing fees and listing charges. The decision to go public, or to look for other avenues of raising capital privately, is one that shouldn't be taken lightly.
- An alternative source of growth capital and/or liquidity
- Key benefits of private equity versus IPO
- A partnership for growth: providing expertise and support as well as capital
- Stepping stone to a more successful IPO
James Wentworth, director, CHAMP Ventures
2.15pm Pre-IPO space capital raising
In the lead-up to an IPO, most companies undertake pre-IPO capital raising. This helps to fund not only the cost of listing (which can easily reach $1m) but also to maximise profits, expand or even make an acquisition. This session covers the options and issues that arise from pre-IPO raising:
- When is the right time to raise pre-IPO capital?
- How much should you raise?
- How long will it take?
- Ways pre-IPO raising can help maximise your IPO:
- Expansion
- Acquisitions
- Cornerstone investor
- Board
- Becoming investor-ready
Reuben Buchanan, director, Integral Capital Group
2.45pm Getting started in the world of online IPOs
- Mergers & acquisition online
- Online IPO launch: the changing face of Australian IPOs
- Is an online launch viable in today's busy business world - changes, time restraints etc?
- Financial benefits to an online IPO:
- increasing your bottom line
- fees and charges associated with an online IPO
- Practical discussion and case study from a company listed online in Australia
- Connecting to the world of investing online: untapped opportunities for financial growth
Susan Werkner, managing director, Interactive Investor
3.15pm Conference Adjourns
