Assurance On Capital Market Transactions

We advise companies raising debt or equity capital in the Sri Lanka Capital Market. We offer tailored advice to a broad range of businesses from smaller, entrepreneurial companies embarking on the capital markets for the first time to sophisticated national or multinational companies using the international capital markets regularly.

Advice on equity transactions covers all stages of the process, from preparing for life as a public company and selecting the right capital market, to establishing the right team of advisers and advising on regulatory issues. This advice includes compliance with the listing and prospectus rules. We also help companies convert to IFRS, establish the right project management structure, and anticipate the potential pitfalls companies face in preparing for the public capital markets.

Potential issues

  • You have no experience of what it means to be a public company or how to achieve your goal of becoming one
  • You need to understand which market is right for you and what regulations and market practice you will need to comply with
  • You are unclear as to who should be on your advisory team, what you should expect from them and what is a realistic timetable for your transaction
  • Your financial record is complicated by a reorganisation, de-merger of operations or changes in accounting policies, and you need to understand how it should be presented to investors
  • You need additional expertise and resource to project-manage your transaction as your own resources and management time will be fully stretched during the process
  • You want to avoid any pitfalls in executing your transaction successfully within the timetable
  • You need help in understanding how to continue to comply with regulation and investor expectation once you have become a public company

How we can support you

  • An independent view of the critical issues in accessing a particular capital market
  • An unbiased evaluation of which advisers are right for you
  • Experience of guiding management and companies unfamiliar with the IPO process
  • Experience of dealing with the regulatory rules and market practice in Sri Lanka to spot in advance and iron out difficulties
  • Ability to project-manage key parts of your transaction to timetable.

For assurance on capital market transactions PwC provides

  • Pre-IPO workshops
  • Reporting on financial track records in prospectuses
  • Conversion to IFRS
  • Long form and working capital due diligence reviews
  • Corporate governance and systems reviews
  • Market and operational due diligence
  • Comfort letters on prospectus disclosure
  • Assistance in resolving issues with stock market regulators
  • Other reports required by regulatory authorities.