An IPO is a transformational event that touches every functional area of the company. CFGI’s Capital Markets Advisory team helps companies prepare for IPOs, reverse takeovers, de-SPAC transactions, dual listings, follow-on offerings and other capital markets events across major exchanges worldwide.
The last several years have run hot, cold and back again. The companies that priced through it shared a pattern: they were public-company-ready before the window opened, not scrambling once it did. Four shifts keep showing up in every readiness conversation.
Surges in IPO volume are followed by extended market closures. Companies that were not ready when the window was open missed the opportunity and had to wait out downturns lasting well over a year. Readiness cannot be compressed into the window itself.
Pricing on optimistic growth forecasts left a long tail of underperformance. The current bar is sustainability of the business, not just trajectory of the curve. Forecast accuracy and KPI discipline matter more than they ever did.
Regardless of whether a company lists in the US, UK, Europe, Canada, Australia or other major markets, investors and regulators increasingly scrutinise governance, internal controls, reporting quality, cybersecurity and sustainability disclosures. Expectations extend far beyond the offering document itself.
When market conditions align, benchmark indices are strong, deal activity ramps and reduced volatility makes IPOs increasingly feasible, the advantage goes entirely to companies that did the readiness work during the quiet period. Preparation is the differentiator.
From the initial IPO Readiness Assessment to execution, remediation and ongoing compliance, CFGI’s Capital Markets Advisory practice runs the full lifecycle, with fully embedded support across the entire process.
Readiness assessment designed to develop a tailored, action-oriented roadmap aligned with strategic objectives, benchmarking current capabilities against public company standards and identifying key actions required to support a successful listing.
IPO project plan stand-up, PMO governance, steering committee monitoring, workstream interdependency tracking and Board status reporting across the full lifecycle.
Drafting and support across key capital markets reporting requirements, including SEC reporting (US), FCA/UKLR reporting (UK), Euronext and EU reporting requirements, as well as preparation of technical accounting positions and audit readiness.
Accelerated period-end close, public company close calendar, forecast accuracy and KPI design, non-GAAP and KPI reporting, EPM evaluation and automation.
SOX readiness, UK Corporate Governance Code readiness, internal control frameworks, ITGCs, disclosure controls and procedures, risk management frameworks, internal audit programmes and remediation.
A tailored readiness assessment across key areas critical to a successful listing. Output is designed to develop a tailored, action-oriented roadmap aligned with strategic objectives, benchmarking current capabilities against public company standards.
Generally recommended for companies that are 12 to 24 months out from a potential public offering.
6 to 18 months of hands-on execution following the readiness assessment. CFGI leads transaction execution through PMO oversight, public company reporting readiness, internal controls and governance implementation, close optimisation and tax, treasury, sustainability and technology workstreams, tailored to the requirements of the chosen listing venue and transaction structure.
Best for: companies post-assessment ready to operationalise the roadmap.
CFGI’s integrated capital markets services emphasise project management and tailored solutions that anticipate the unique needs of each company. Drawing on extensive experience across IPOs and other capital markets transactions, the team helps clients look around corners, not just consult from the sideline.
Capital markets opportunities can emerge quickly, but readiness takes time. Critical activities such as strengthening governance, enhancing reporting processes, implementing controls frameworks, and building an experienced public company leadership and board structure often require many months to complete. Companies that delay preparation risk missing attractive market windows.
Failure to meet forecasts after pricing has a direct impact on valuation and credibility with investors and banks. KPI validation, forecast modelling, and management reporting all need to clear the bar before pricing, not after.
Investors and regulators expect mature governance, reporting and control environments. Deficiencies in these areas can lead to increased scrutiny, reputational damage and execution risk. Control frameworks, documentation, monitoring and remediation programmes should be established well before a market transaction or listing.
Accounting, close, FP&A, controls, legal, IT and cyber, tax, treasury, HR, capital markets, IR and ESG all require organisational change to become public-company-ready. Sequencing this without a PMO is the most common reason timelines slip.
Preparing for a public market transaction involves multiple interconnected workstreams, including financial reporting, disclosure drafting, governance readiness, investor communications and regulatory review. Delays in any one area can have downstream impacts on the overall transaction timeline.
The work does not end at listing. Public companies operate under accelerated reporting timelines, ongoing disclosure obligations and increased governance expectations. The first year is often where gaps in processes, controls and reporting capabilities become most visible.
Whether you need an IPO Readiness Assessment or full execution support alongside the existing team, the same practice scales to the window.