Global Business Services Platform: Pre-IPO funding preparationcase study
American insurance business: Pursuing an IPO when you’re already at maximum capacity
An American insurance business head-quartered in California, with a global administrative office base in multiple locations across the globe. The company was ready for exponential growth and decided to pursue an IPO on the London Stock Exchange’s AIM Market.
The business was planning to list on AIM and required the conversion of key financial statements from US GAAP into EU IFRS for it’s IPO but lacked the necessary in-house expertise. The business was already functioning at maximum capacity and lacked the in-house expertise required and CFPro were able to provide the additional resource to pick up the project .
CFPro was tasked with collating and collecting critical historical financial information out of the internal systems and supporting documentation. In order to ensure accuracy and the detail required to complete the conversion, it was necessary to spend time with the internal team in the US office. As is customary for insurance institutions who wish to pursue an IPO, the team was required to access and collate data over the 10 years of the company’s life prior to the IPO.
The London Stock Exchange successfully welcomed the company onto the AIM Market in 2017.