Surge in cross-border IPOs prompts app for comparing listing requirements on the fly
Global, 22, October 2012 – Global law firm Baker & McKenzie today launched a first-of-its-kind Cross-Border Listings App for iPhone,iPad and iPod touch. The free app, available now on the App Store, is an interactive and robust legal tool designed to help investment bankers, CFOs, in-house counsel and other members of management as they consider global listing options.
Companies are no longer defaulting solely to their home market for IPOs. Working with their financial and legal advisors, they are thinking more creatively, and the need to compare the requirements and benefits of each exchange has grown. And despite a decline in overall global IPO volume over the past year, top exchanges around the world are seeing an increase in listings and more capital raised by issuers based in outside jurisdictions. In fact, from January 2010 - June 2012:
- 78% of capital raised on the Hong Kong Stock Exchange was by non-Hong Kong issuers
- 66% of capital raised on the London Stock Exchange was by non-UK issuers
- 42% of capital raised on the Toronto Stock Exchange was by non-Canadian issuers, and
- In the United States, there were just over 200 listings by non-US issuers.
“We continue to see increasing numbers of companies looking abroad to go public,” said Amar Budarapu, Chair of the Firm's Global Securities practice group. “This seems to be due to many factors, such as continued growth in emerging markets, the easing of certain regulatory requirements in the United States under the US JOBS Act, and the continued economic difficulties in Europe. Companies want to maximize the return on their IPO, and this app allows them and their advisers to quickly compare listing requirements around the world to determine the best venues to raise capital, or increase visibility and investor perception. The app gives one-touch side-by-side comparisons of regulatory and other key requirements for listing securities abroad, which helps our investment bank and issuer clients make the right business decisions.”
Cross-Border Listings App users can:
- View summaries of listing requirements for more than 25 stock exchanges;
- Compare key requirements among exchanges side-by-side;
- Scroll through an interactive map;
- Bookmark sections and add personal notes; and
- Email summaries.
"We are excited to be able to offer our clients important legal and regulatory content through this truly interactive app," said Budarapu. "We believe our Cross-Border Listings App is unlike any other legal app out there today."
The Cross-Border Listings App is available for free from the App Store on iPhone, iPad or iPod touch or at www.itunes.com/appstore
. Just search for "cross-border listing" or "Baker & McKenzie."
For more information go to www.bakermckenzie.com/crossborderlisting
Baker & McKenzie’s Global Securities team comprises more than 350 securities lawyers in over 40 countries, and covers every major commercial, financial and industrial center in the world. The Firm represents issuers and investment banks in a wide variety of IPOs, cross-border listings and other capital markets transactions, including debt, equity and equity-linked issues, and in complex, multi-jurisdictional acquisitions and divestitures involving public companies. The practice is consistently ranked among the top corporate law firms globally and in the world’s largest capital markets.