Preparation for IPO

Access to open capital markets will help raise financial resources

The Russian IPO market experiences a revival - and this is not surprising. In the conditions of closed Western markets and high interest rates, it is much more profitable for Russian companies to place shares to obtain financing than to attract bank loans or issue bonds. Besides, in the context of the transforming Russian economy, many Russian companies have a chance to enter the public market and scale their business.

The process of initial placement of securities on the public market after the shareholders’ IPO decision takes a long time, on average about a year. Depending on the type of a financial instrument planned for placement (shares or bonds), the amount of preparatory work may vary significantly - both for the potential issuer itself and for other parties involved in the procedure.

Organisational and technical unpreparedness of a company can be a stumbling block for obtaining public status. The speed and efficiency of an IPO project largely depend on the knowledge of legal and procedural technicalities, the ability to prepare high-quality financial statements in accordance with IFRS and have them audited by a reliable auditor, as well as on understanding of the requirements and specifics of the entities involved in the process.

Engaging a professional consultant auditor can have a decisive impact on the IPO project timeline and success. Relying on our solid experience of work with public companies and the Moscow Exchange, the Unicon team is ready to help you prepare for placement of securities on the public market.

Services offered

IPO readiness health check
Assistance in the project coordination, in particular, when interacting with the Moscow Exchange and rating agencies
Rating consulting
Consulting and practical assistance in the first-time adoption of IFRS
Independent audit of financial statements under IFRS and RAS

Issues resolved

Determining the listing and rating levels to be expected
Client compliance with requirements for preparation and audit of IFRS financial statements
Assistance in preparation of financial statements under IFRS
High-quality audit of IFRS financial statements
Legal aspects of placing financial instruments on the open market
Compliance of corporate governance with the requirements of the Moscow Exchange and the Bank of Russia
Choosing the optimal timing for a public offering

Understanding you gain

Steps required for going public
Approximate timing of entering the public market
Main bottlenecks to overcome to comply with the Moscow Exchange and Bank of Russia requirements for companies going public
IPO costs

Our strengths as an IPO consultant and auditor

The largest Russian audit and consulting group of companies.
Unicon's audit reports are highly trusted by the Moscow Exchange, the regulator and all major organisers. Unicon has been providing services to key businesses in all sectors of the Russian economy for 35 years already.
We are in the Bank of Russia register of auditors of public interest entities (PIE).
Unicon has the right to audit the financial statements of companies whose securities are admitted to organised trading.
In-depth due diligence required to meet regulatory requirements in IPO preparation
Our several specialised departments will be involved to tackle your IPO project. Each of them will focus on its specific segment:
- Independent audit of financial statements according to IFRS and RAS
- Consulting and hands-on assistance in the first-time adoption of IFRS
- Addressing each corporate governance aspect
- Business valuation, preparation of roadshow with potential investors and roadshow impact projections
- Professional tackling of IPO-related legal issues
- Analysis of client internal control and internal audit systems
- Assessing tax risks and implications for investors
Cooperation with organisations relevant to the IPO process Unicon interacts with the largest Russian rating agencies and associations.

Multi-year cooperation with the Moscow Exchange
Unicon’s CEO and heads of the audit and valuation departments are members of the Expert Council on Listing of the Moscow Exchange.