The Ernst & Young Guide to the IPO Value Journey
The Ernst & Young LLP Guide to the IPO Value Journey®In recent years, initial public offerings have exploded in number and have enjoyed incredible performance at the outset. However, many companies fizzle during the first three years after going public, significantly underperforming the market both in profits and share price. Determined to identify the keys to successful IPOs, Ernst & Young began an ambitious research project called Managing the Success of the IPO Transformation Processsm. The research has shown that highly successful companies (Yahoo!, Lucent Technologies, Amazon.com) treat IPO as a process—while the unsuccessful often treat it as a financing transaction. Ernst & Young has updated its Guide to Taking Your Company Public, incorporating the illuminating results of the research project into this new edition. The Ernst & Young Guide to the IPO Value Journey is a complete management guide for going public. It has been revised to focus on the IPO as a lengthy process called The Value Journey®, which has significant impact on company operations. This book helps you decide whether an IPO is right for your company and Lets you know what to expect from the various participants in the IPO process—the SEC, the financial community, the press, and various stakeholders. The IPO process itself is described in detail, together with information about how to work with underwriters, attorneys, auditors, and other advisors.Learn the pros and cons of becoming a public company— and the factors that separate the highly successful from the unsuccessfulDiscover the key legal, accounting, and reporting issues you will face with an IPO eventElicit better performance from your boardImplement strategic transactions, such as acquisitions, alliances, and recapitalizationExcel at the initiatives that must take place after the IPO