Capital raising

Initial public offerings

Through our comprehensive knowledge of the execution process and the rules and regulations governing the world’s leading capital markets, we help clients choose the right markets for their businesses and navigate every phase of the complex IPO process.

Our IPO Centre makes it easier for you to understand what you need to know, and what you need to do, to complete an IPO. We can help you evaluate the pros and cons of an IPO, navigate the listing process, and prepare your business for life as a public company, regardless of the market you choose to list on.

Debt and Equity capital markets advisory and assurance

Organisations and private equity owners typically seek to access the debt capital markets in order to grow their business through acquisitions, deleveraging, or taking advantage of favourable interest rates. When issuing public bonds (Eurobonds, high yield bonds or investment grade bonds), businesses usually require expert, hands-on advice to execute a transaction in an often challenging timetable.

Comprised of a diverse community of solvers, our team draws upon the capabilities of our skilled global network to support our clients and their advisors throughout the entire process – fostering creativity with problem-solving and sharing insights to ensure efficient processes.

Deal readiness

Key issues

  • What debt raising options are available?

  • Is a debt listing a viable option?

  • Is our business ready? 

How CMAAS can help

  • Determining deal readiness and areas of risk and focusing on the outset of the transaction

Project coordination

Key issues

  • What does the process involve and how do I prepare? 

  • Do we have the bandwidth within the team?

  • Who is the right advisory team (banks, lawyers, accountants etc)?

How CMAAS can help

  • Drive project planning  and coordinate transactions -  provide practical, commercial and timely advice to achieve milestones

Offering document preparation

Key issues

  • What financial information is required for inclusion in the offering document? 

  • How do I address recent or planned acquisitions and disposals? 

  • Which non-GAAP measures should I present?

How CMAAS can help

  • Using our business knowledge to assist and advise on the inclusion and disclosures of financial information, non-GAAP measures and any pro-forma financial details in the offering document 

  • Reviewing the consistency of financial information included in the offering document, rating agency presentations and road show documentation

Transaction compliance

Key issues

  • What are the regulatory requirements and how do they differ from my home country requirements? 

How CMAAS can help

  • Provide advice on current market practices and ongoing transaction compliance - navigate complex multi-jurisdictional regulatory requirements

Comfort letter issuance

Key issues

  • What does the diligence and comfort process involve?

How CMAAS can help

  • Advise on the content and structure of comfort letters

  • Through our audit services, we issue comfort letters to the company and initial purchaser banks on certain financial information included in the offering document

Transaction structuring

Key issues

  • Who is the issuer? Is the issuer a new plc or existing company? 

  • Are there hedging and foreign exchange implications? 

  • Where should the issuing company sit within the existing structure?

  •  Considering fund flows, what do we need to take into account in addition to the extraction of proceeds and tax implications?

How CMAAS can help

  • Design solutions for complex debt transactions by optimising group structures

  • Advise on complex accounting and tax aspects and legal structures.

Contact us

Joga Singh

Joga Singh

Partner, Global CMAAS Leader, PwC United Kingdom