Capital markets

PwC Capital Markets Group Italy consists of highly specialised and senior professionals, representing a diverse range of nationalities and with extensive international experience. Our team works closely with other PwC offices, throughout the world, in order to offer an international approach to all situations.

Key issues to consider
  • Are you considering listing your company in Italy or abroad?
  • If listed, are you considering a capital increase? Or performing extraordinary operations?
  • Are you considering a transition of accounting principles or do you need assistance to solve a technical accounting issue?

How we can support you
Our team can help you by offering a complete range of services that can be grouped into three main categories.

   Unlisted companies
  • Assistance with defining the Initial Public Offering structure, project management, co-operation in choosing other partners (sponsor, legal advisors etc) and coordination of all parties involved in the operation;
  • Assistance with preparing the company for the process: verifying the adequacy of the internal organisation and eventual actions necessary if differences with regulatory standards are identified. In particular, the following aspects are analysed: internal organisation, internal control system, corporate governance, and internal reporting systems;
  • Assistance with the preparation of the prospectus and offering circular, in particular, the financial sections: historical financial information, in conformity with the regulations, preparation of aggregated financial statements, consolidated or pro-forma financial information, analysis of the balance sheet, financial position and economic results;
  • Assistance with the preparation of the Business Plan: market projections analysis, financial projections review, analysis of the management's capacity to achieve the business plan;
  • Assistance with the preparation of QMAT, through analysis of Business Unit strategy, financial and market analysis;
  • Support with the interaction and negotiation with Consob, Borsa Italiana, FSA, SEC, or other regulatory entities;
  • Preparation of the Long Form Report and Working Capital Report;
  • Accounting technical support in each phase of the process, which includes assistance with all aspects of the IFRS transition process from local GAAP to IFRS and assistance with solving specific technical accounting issues.
   Listed companies
  • PwC CMG offers the following services to listed companies:
  • Assistance related to compliance with regulatory requirements during a capital increase transaction;
  • Assistance during extraordinary operations (mergers and acquisitions, transfers, disposals, etc. …), in terms of structure of operations, preparation of accounting simulations, compliance with regulatory requirements in force relating to information to be provided to the market and preparation of documentation required by regulations;
  • Assistance with the preparation of prospectuses and/or offering documents and pro-forma financial information, if required by regulatory requirements;
  • Assistance with the examination process, if requested, or negotiations with Consob, Borsa Italiana, FSA, SEC, or other regulatory entities during the extraordinary operations process.
   Accounting Advisory services
  • Accounting Advisory is a service provided to assist both listed and non-listed companies.
  • Assistance with all aspects of the transition from local GAAP to IFRS/US GAAP as well as “de-transition” operations if allowed and applicable;
  • Assistance with managing the accounting implementation projects, including typical projects necessary during the post restructuring process, assistance with solving specific technical issues and simulated representation of accounting effects related to contracts or extraordinary operations;
  • Assistance with the resolution of specific accounting issues.