For companies, regulated markets are an opportunity for growth.
Ria Grant Thornton supports companies in all phases of the process of accessing and remaining in regulated markets through the experience of its professionals in both Assurance and Advisory activities relating to the IPO processes on the Euronext and AIM Italia segments (managed by Borsa Italiana).
We assist you in the following activities:
- Carrying out specific procedures regarding the accounting data included in the Admission Document or Assistance in preparing the Admission Document;
- Carrying out procedures and issuing the comfort letter and the related report with a focus on:
- Review of the financial and economic data relating to the business plan (pre-IPO);
- Analysis of the monthly data of the business plan (income statement/balance sheet/cash flow) prior to the preparation of the prospective Net Working Capital;
- Analysis of the key variables subject to sensitivity analyses and assessment of multiple simulated scenarios supported by the Issuer's Board of Directors;
- Assessment of the effects of the sensitivities on the evolution of net working capital and NFP and verification of the stability of the working capital (from a pre-money perspective) over a period of 12 months or 18 months (in the case of start-ups).
- Analysis of every aspect concerning the issuer's financial structure including the composition of the net financial position, checks on net working capital, the existence of debt covenants, past due commercial, financial, tax and social security payables, past due trade receivables and derivative contracts. The results of the financial due diligence must be summarised in a specific long-form report.
- Carrying out procedures and issuing the comfort letter on the reasonableness of the forecast data prepared by the Company.
- Conducting analyses aimed at issuing the comfort letter on the management control system.
- Support to the post-IPO Company for integration activities, closing any gaps that emerged during the IPO.
- Support to the Company on further post-IPO Information Documents relating to additional capital raising and/or relating to Extraordinary Operations;
- Coordination of the IPO Process together with the Sponsor/Advisor.