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IPO SUPPORT

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IPO Support

An Initial Public Offering (IPO) refers to a company’s first listing on a stock exchange, in which shares are offered to the public to raise capital for further growth or strategic objectives. This step enables companies to expand their market presence and attract new investors. The primary target audience for an IPO consists of growth-oriented companies that are in the process of expanding and seeking access to the capital market.

Going public involves a comprehensive organizational transformation process that is both time-consuming and complex. It ties up significant internal resources and requires cross-functional expertise. Preparing for an IPO, coordinating extensive tasks, and aligning numerous internal and external stakeholders—such as subject matter experts, auditors, legal advisors, banks, and regulatory authorities—is a demanding undertaking that requires sound planning, clear structures, and consistent project management.

WTS Advisory supports companies throughout the entire IPO process with tailored expertise, from strategic planning and business valuation to structured implementation and compliance with regulatory requirements (e.g., GAAP conversion), to ensure successful access to the capital markets. In addition, WTS Advisory supports companies in the post-IPO period—known as “being public”—to ensure long-term and sustainable success on the stock market.

Which companies would benefit from IPO support?

Growth-oriented companies and small and medium-sized enterprises in expansion phases.

Companies seeking to attract institutional and private investors or to enable owners to take a partial exit.

What makes an IPO successful

As part of our IPO support services, WTS Advisory provides you with strategic, substantive, and organizational assistance:

Early planning

Well-structured start to conserve internal resources and streamline complex processes.

Status report

Review of legal, regulatory, and operational aspects; aligning the corporate structure with the capital market.

Stakeholder coordination

Coordination among internal teams and external partners such as banks, lawyers, and auditors.

Roles and Milestones

Clear responsibilities and well-defined work packages ensure smooth implementation.

Investor perspective

Development of a data-driven and transparent equity story.

Resource management

Targeted internal reinforcement or the recruitment of external expertise ensures the ability to act effectively throughout the IPO process.

Nikolaus Färber

Our clients benefit from integrated, end-to-end support throughout the entire IPO lifecycle, a methodology proven in the capital markets, and a clear focus on efficiency, compliance, and sustainable implementation. Since we do not conduct annual audits, there are no audit-related conflicts of independence—this allows us to serve as your strategic partner over the long term, even beyond the IPO.

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WTS Advisory guides you through the entire IPO process

Services

IPO Preparation

Preparing for an IPO is a critical success factor, as any shortcomings during this phase can lead to long-term operational, regulatory, and capital market issues once the company goes public.

In-depth corporate finance and capital markets analysis to evaluate the IPO as an option and a structured comparison with alternatives (e.g., M&A, capital increase, SPAC), including the development of a compelling capital markets narrative and implementation strategy.
Establishment of the necessary infrastructure, such as a structured data room, an integrated multi-year business plan with scenarios, planning of capital allocation, and definition of capital market-relevant key performance indicators.
Analysis of accounting, reporting, compliance, and governance structures with regard to stock exchange requirements, and development of a prioritized roadmap leading up to the IPO.
Coordination of all workstreams (PMO).
Step-by-step plan with clear timelines

Services

Going Public

Establishing capital-market-ready reporting, accounting, and governance structures (e.g., internal control systems, risk management), developing a comprehensive annual report, and implementing at least semi-annual IFRS consolidated financial statements.
Support in the IPO process by developing a compelling equity story, preparing roadshows, messaging, and Q&A sessions, and contributing to prospectus content (including MD&A and business overview) with a focus on consistency and regulatory compliance.
Support with financial (including working capital statement analysis and business plan plausibility checks), tax, and, if applicable, legal due diligence.
Establishment of a professional investor relations function.
Conducting analyst meetings and regularly communicating business development guidance.
Implementation of effective ESG reporting.
Selection of suitable disclosure management and automation tools.
Knowledge transfer to ensure the long-term embedding of processes.
Preparation of the necessary reconciliation for the last three balance sheet dates, converting the annual and consolidated financial statements previously prepared in accordance with the German Commercial Code (HGB) to International Financial Reporting Standards (IFRS conversion).

Services

Being Public

Ongoing support on capital market-related matters such as follow-on capital measures and new regulatory requirements, including capital increases, secondary offerings, or changes in the capital markets regulatory environment.
Assistance in efficiently and sustainably fulfilling the ongoing reporting and compliance obligations of a publicly traded company.
Support with the technical implementation and execution of the electronic tagging of the IFRS consolidated financial statements (“tagging,” also known as the European Single Electronic Format (ESEF)).
Ongoing advice on optimizing structures, processes, and capital market positioning, even after the IPO.
Establishment of internal reporting for various stakeholders (e.g., the supervisory board).
Conducting analyst relations, earnings calls, and communicating guidance to ensure transparency and trust in the capital markets.

Your contacts for IPO support

Nikolaus Färber

Service Line Lead WTS Advisory

+49 (0) 89 28646-2700

nikolaus.faerber@wts.de

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Dr. Heiko Frank

Partner Advisory

München

+49 (0) 89 28646-2700

heiko.frank@wts.de

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Hans-Georg Weber

Partner Advisory

München

+49 162 2444872

hans-georg.weber@wts.de

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Nina Blume

Partner Advisory

Hannover

+49 (0) 511 123586-150

Nina.Blume@wts.de

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Natalie Wurms

Partner Advisory

München

+49 170 1163863

Natalie.Wurms@wts.de

Frequently Asked Questions about IPO

Which companies should consider going public?

An IPO is particularly appealing to growth-oriented companies and small and medium-sized enterprises in expansion phases. Key requirements include a solid financial structure, scalable business processes, and a clear strategic direction that makes the company attractive to institutional and private investors.

What is the typical timeline for an IPO?

The initial public offering (IPO) process consists of several phases: from strategic preparation and an internal assessment (IPO preparation) through the drafting and review of the prospectus to the placement of shares (going public) and the subsequent integration into regular reporting to the stock exchange (being public). The duration depends on the size of the company, the complexity of its structure, and regulatory requirements. Experience shows that the average duration of the IPO process is 6 to 12 months.

What regulatory requirements must be met?

An IPO requires compliance with comprehensive capital markets regulations. A key requirement, in particular, is the preparation and approval of a securities prospectus in accordance with the EU Prospectus Regulation (Regulation (EU) 2017/1129) by the competent supervisory authority. In addition, listed companies are subject to ongoing transparency and disclosure obligations, such as those under the EU Market Abuse Regulation (MAR, Regulation (EU) No. 596/2014) and the provisions of the German Securities Trading Act (WpHG). Companies should also take into account the recommendations of the German Corporate Governance Code (DCGK, Section 161 of the German Stock Corporation Act (AktG) – reporting obligation) and establish robust compliance and reporting structures even before the IPO in order to meet regulatory requirements and investor expectations.

What's the best way to prepare for a successful IPO?

Successful IPOs are based on structured planning with clearly defined milestones and responsibilities. Robust project management, transparent governance structures, and the coordinated involvement of all internal and external stakeholders are crucial for efficiently managing the process and minimizing risks.

What are the benefits following the initial public offering?

An initial public offering (IPO) gives companies access to additional equity capital, strengthens their market presence, and enhances their reputation among investors and business partners. At the same time, it provides strategic flexibility for growth, acquisitions, or operational development. In addition, the shares issued can be used as “currency” for acquiring other companies.

Further topics you could be interested in

Capital Markets Advisory

Company sale - M&A-Sell Side Advisory

Due Diligence

IPO Readiness

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