Initial Public Offering Training Course

Duration 5 days 10 modules · 33 contact hours
Level Intermediate Certificate on completion
Who attends Corporate Finance Managers, Treasury Managers and others
Fee from USD 1,100 KSh 95,000 for Kenyan organisations
Where 52 cities + online See dates by city
Next start 16 Nov 2026 Course code SD-TI-042

Before you join: Participants should understand financial statements, corporate finance concepts and basic equity valuation terminology.

Dates & prices

Two start dates a month in every city, and live online on weekdays or weekends. Fees are per participant; classroom fees include tuition, materials, lunch and refreshments, and the certificate.

Suggest a date or city

Showing the next six months. Later dates, other cities and private deliveries for your team are available on request.

Course overview

An initial public offering is a major financing, governance and disclosure event, not simply a share sale. Management, treasury, finance and transaction teams must determine whether the issuer is ready, appoint and manage advisers, produce credible financial information, support valuation and investor messaging, and meet demanding disclosure and market-timing requirements. Weak preparation can delay the transaction, reduce investor confidence, increase execution risk or leave the newly listed company unprepared for life as a public issuer.

This course examines the full IPO process from readiness assessment through admission, pricing, allocation and post-listing obligations. Participants learn how equity story, business plan, financial statements, working-capital analysis, valuation and underwriting interact during an offering. They assess issuer readiness, compare listing venues and transaction structures, interpret the roles of banks and advisers, review due diligence and prospectus development, and understand bookbuilding, pricing and stabilisation. The course also addresses investor relations, financial reporting calendars, governance and controls required after admission.

Instruction combines short technical briefings with issuer cases, document reviews, valuation analysis, group decision work and IPO process simulations. Participants apply methods to realistic situations such as a family-owned manufacturer seeking growth capital, a bank subsidiary preparing a partial flotation, or a technology company balancing valuation expectations against disclosure readiness. They leave with an IPO readiness assessment pack, transaction timetable, adviser selection criteria, valuation framework and post-listing action plan. The five-day instructor-led course is available in classrooms in more than 50 cities or live online, runs from 08:30 to 16:30 each day, and includes a certificate of completion.

The course is suited to finance professionals supporting an issuer, advisers working with IPO candidates, and investment professionals who need to assess public-market transactions with greater discipline.

What you will be able to do

  • Assess IPO readiness using a structured financial, governance and operational readiness framework
  • Develop an IPO transaction timetable covering advisers, diligence, documentation, marketing and admission
  • Compare primary, secondary and mixed offering structures against shareholder and capital objectives
  • Construct valuation ranges using comparable companies, precedent transactions and discounted cash flow methods
  • Interpret underwriting, bookbuilding, allocation and stabilisation mechanics in an equity offering
  • Review prospectus disclosure requirements, due diligence evidence and verification procedures
  • Prepare an investor equity story supported by financial metrics, market evidence and risk disclosures
  • Create a post-listing reporting, governance and investor-relations implementation plan

Benefits of attending

For you

  • Contribute credibly to IPO readiness meetings with banks, lawyers and auditors
  • Identify financial reporting and governance gaps before formal transaction launch
  • Build defensible valuation ranges for management discussions and board papers
  • Understand the decisions that affect pricing, allocation and shareholder outcomes
  • Prepare for public-company reporting, investor relations and disclosure responsibilities

For your organisation

  • Earlier identification of readiness gaps that can delay an intended flotation
  • Better coordination between finance, treasury, legal, management and external advisers
  • More disciplined evaluation of listing venue, transaction structure and timing options
  • Stronger management challenge of valuation assumptions and underwriter recommendations
  • Improved preparation for post-listing reporting, governance and investor communications

Course modules

10 modules over 5 days

Participants can assess whether an issuer has the financial, governance and operational foundations for an IPO.

  • IPO objectives compared with trade sales, private placements and debt refinancing
  • Primary, secondary and mixed offerings matched to shareholder funding objectives
  • Readiness assessment covering financial reporting, governance, controls and management depth
  • Public-company obligations identified before selecting a listing timetable
  • Equity story defined around growth drivers, market position and financial performance
  • Board decision criteria for pursuing, postponing or abandoning an IPO

Participants can select an appropriate IPO structure, listing venue and adviser model.

  • Listing venue comparison using investor base, liquidity, regulation and eligibility
  • Domestic, international and dual-listing routes evaluated against issuer objectives
  • Underwriter selection criteria covering distribution strength, research and sector expertise
  • Legal counsel, auditors and reporting accountants assigned defined transaction responsibilities
  • Syndicate structures explained through global coordinators, bookrunners and co-managers
  • Engagement letters reviewed for fees, indemnities, mandates and termination provisions

Participants can identify the financial information, reporting processes and controls required for an offering.

  • Historical financial statements reconciled to applicable listing and accounting requirements
  • IFRS and US GAAP differences assessed for cross-border issuer reporting
  • Working-capital statements supported by forecasts, sensitivities and funding assumptions
  • Pro forma financial information prepared for acquisitions, carve-outs and reorganisations
  • Financial reporting controls mapped to public-company close and disclosure timetables
  • Non-GAAP performance measures tested for consistency, reconciliation and prominence

Participants can develop and challenge IPO valuation ranges using established equity valuation methods.

  • Comparable company analysis selected using business model, growth and profitability
  • Enterprise value bridges reconciled to equity value and implied share price
  • Precedent transaction analysis adjusted for control premiums and market conditions
  • Discounted cash flow valuation built from forecast cash flows and WACC
  • Sensitivity tables test terminal growth, margins, multiples and capital assumptions
  • IPO discount considered against liquidity, execution risk and aftermarket performance

Participants can organise diligence evidence and evaluate the principal components of IPO disclosure.

  • Due diligence workstreams coordinated across commercial, financial, legal and tax teams
  • Data rooms structured around evidence, ownership, version control and access rights
  • Prospectus sections drafted for business, risks, financials and use of proceeds
  • Verification notes link material statements to documentary evidence and management confirmations
  • Risk factors prioritised by probability, materiality and issuer-specific circumstances
  • Comfort letters and negative assurance understood within reporting accountant procedures

Participants can manage the IPO timetable, approvals, dependencies and transaction governance.

  • IPO timetable sequenced from kick-off through admission and settlement
  • Critical path analysis identifies dependencies between audits, diligence and approvals
  • Steering committee governance assigns decisions, escalation routes and meeting cadence
  • Regulatory filing milestones coordinated with exchange review and prospectus clearance
  • Blackout periods managed around financial results, disclosures and investor meetings
  • Contingency plans address market disruption, valuation gaps and delayed approvals

Participants can prepare investor communications and manage the marketing process before bookbuilding.

  • Investor targeting segments institutions by strategy, geography and sector interest
  • Management presentations align equity story, financial evidence and investment risks
  • Analyst education materials distinguish factual disclosure from promotional messaging
  • Roadshow schedules prioritise high-conviction accounts and management capacity
  • Research analyst independence considered within applicable market conduct restrictions
  • Investor feedback captured through structured reports, objections and demand indicators

Participants can explain how order books inform pricing, allocation and final offer decisions.

  • Bookbuilding mechanics convert investor indications into price-sensitive demand information
  • Order-book quality assessed through price limits, investor quality and order size
  • Price range revisions evaluated against demand elasticity and valuation evidence
  • Allocation principles balance long-term holders, liquidity and aftermarket support
  • Cornerstone and anchor investors assessed for signalling, lock-ups and concentration
  • Overallotment options and stabilisation explained through greenshoe transaction mechanics

Participants can coordinate closing activities and understand the early trading period after admission.

  • Closing conditions tracked across underwriting, legal opinions and regulatory approvals
  • Settlement instructions coordinate share issuance, registrar records and payment flows
  • Admission-day communications controlled through approved announcements and disclosure protocols
  • Aftermarket trading monitored against price performance, volumes and investor concentration
  • Stabilisation activity distinguished from ordinary market-making and prohibited support
  • Lock-up agreements monitored for expiry dates, waivers and shareholder communications

Participants can establish a practical post-listing plan for reporting, governance and investor relations.

  • Periodic reporting calendar integrates results, board approvals and market announcements
  • Inside information procedures define identification, escalation and disclosure decisions
  • Investor relations programme schedules earnings calls, guidance and shareholder engagement
  • Board committees align audit, remuneration and nomination responsibilities after listing
  • Share dealing codes manage insider restrictions, closed periods and pre-clearance
  • Ninety-day post-listing plan assigns owners, milestones and outstanding readiness actions

Exercises and examples are adapted to each cohort's sectors and roles.

What you take back to work

  1. IPO readiness assessment template
  2. IPO transaction timetable
  3. Adviser selection scorecard
  4. Equity valuation model framework
  5. Prospectus and verification checklist
  6. Post-listing implementation plan

Who should attend

  • Corporate Finance Managers — preparing issuers for fundraising, ownership transition or market admission
  • Treasury Managers — assessing equity funding within the company’s capital structure and liquidity plans
  • Financial Controllers — producing IPO-ready reporting, financial statements and reporting calendars
  • Investment Banking Associates — supporting execution workstreams, valuation and transaction documentation
  • Private Equity Portfolio Managers — planning exit routes and assessing portfolio-company listing readiness
  • Investor Relations Managers — preparing investor communications, disclosure processes and public-market reporting

Skills and tools covered

IPO readiness assessmentEquity valuationProspectus disclosureBookbuilding mechanicsUnderwriter managementPost-listing compliance

Tools and standards

IFRS, US GAAP, SEC Form S-1, Rule 144A

How the course runs

Training methodology

The course uses short instructor briefings to establish IPO concepts, followed by document-based cases, valuation work, group analysis and transaction simulations. Participants review readiness evidence, compare offering structures, analyse peer-company valuation data and test decisions made by issuers and underwriters. Discussions draw on transactions from sectors such as financial services, infrastructure, technology and manufacturing. Facilitated application planning connects the methods to participants’ own issuer, portfolio company, advisory or treasury responsibilities.

Requirements and prerequisites

Participants should understand financial statements, corporate finance concepts and basic equity valuation terminology. Experience in treasury, corporate finance, financial reporting, investment banking, private equity, legal advisory or investor relations is useful. Participants should be comfortable discussing income statements, balance sheets, cash flow, market capitalisation and enterprise value. Prior IPO transaction experience is not required. The course does not assume advanced financial modelling, securities-law qualifications or prior use of a specific stock exchange rulebook. Participants may bring a current or prospective transaction scenario, but this is optional.

A typical training day

08:30 – 10:30First session
10:30 – 10:45Refreshment break
10:45 – 12:30Second session
12:30 – 13:30Lunch and networking
13:30 – 15:00Third session
15:00 – 15:15Refreshment break
15:15 – 16:30Workshop and daily review

Live online deliveries follow the same structure in East Africa Time, with shorter screen blocks and longer breaks.

What the fee includes

  • Instruction by a practitioner facilitator
  • Full course workbook and materials
  • Exercise files, templates and case studies
  • Refreshments and lunch on classroom deliveries
  • Certificate of completion
  • Post-course application plan

Frequently asked questions

Participants should understand financial statements and basic corporate finance concepts. Previous IPO experience is useful but not required; the course explains the transaction process from issuer readiness through post-listing responsibilities.

Bring a laptop if possible, along with any non-confidential transaction, issuer or portfolio-company scenario you wish to consider. Course materials are provided, and participants do not need specialist modelling software.

It is designed for corporate finance, treasury, financial reporting, investment banking, private equity, legal advisory and investor relations professionals. It is particularly relevant to people supporting a potential issuer or advising shareholders on an exit.

General corporate finance courses focus on funding choices and valuation principles more broadly. This course applies those principles to IPO execution, including prospectus preparation, underwriter management, bookbuilding, allocation, admission and listed-company obligations.

Participants can use the readiness assessment, adviser scorecard, transaction timetable and post-listing plan to structure internal discussions. The methods also support review of external adviser recommendations and board materials.

The programme runs from 08:30 to 16:30 each day, providing about 6.5 contact hours daily. Time is divided between technical instruction, cases, transaction documents, valuation analysis, group work and application planning across the IPO lifecycle.

Questions about this course?

Ask about dates, fees, group bookings or running it for your team. Our training team replies by email.

Ask on WhatsApp info@skillsetdevelopment.com

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