Our specialist Capital Markets team has vast experience working with companies listed, or looking to list, on a range of international markets including the London Stock Exchange Main Market (Premium and Standard), AIM, AQUIS, NASDAQ & OTC, ASX and TSX & TSX-V.
We can help support businesses at each stage of their lifecycle, from pre-initial public offering (IPO) advice, throughout the IPO as reporting accountants and ongoing support as auditors or providing accounting and tax support to meet your businesses requirements. We can also provide advice and assistance should you decide to take the company private.
We are one of the leading advisors to listed businesses in the UK, according to the respected Corporate Adviser Rankings Guide – the fifth largest auditor to LSE listed companies and second-ranked for those on AIM. We provide a range of audit and non-audit services to a wide variety of publicly listed companies and have in depth experience in the natural resources, financial services and industrials sectors, as well as property, retail, technology, and healthcare.
-> Ranked 5th Auditor to Total Stock Market clients in the UK
-> Ranked 2nd Auditor of AIM companies
Source: Adviser Rankings Guide, September 2024
We have great relationships and can help facilitate introductions to key players within the capital markets community including NOMADs, Brokers, solicitors and PR firms.
Through our international network, PKF Global, with members across 150 countries we have extensive exposure to the international markets and a sound base from which to provide a strategic overview of your international plans and aspirations.
Pre-IPO
We understand that listing can be a complex process and therefore look to share our knowledge from the beginning. Understanding whether you, as a company, are ready to start the listing process is something we will help to assess.
Starting on the listing path without preparing can lead to avoidable extra costs. At PKF, we will help you assess the position of the governance, management and financial reporting systems in place to provide practical recommendations to the board of directors. Understanding the level of documentation in place (financial information, forecasts, and systems and controls memos) prior to listing can help you save significant time further down the line.
We can help you with all of the key decisions that you will need to make prior to the listing process and ensure that you have robust processes in place to make the transition from a private to a public company as seamless as possible.
How we can help
- Discussions with you to understand the rationale for an IPO and best fit for you
- Assessments of financial and reporting systems
- Assessments of governance structures and processes
- Documentation reviews – including forecasts, financial information, etc.
- Assistance in establishing robust processes pre-listing
- Set-up of new PLC and/or conversion of existing PLCs
- Accounting policy reviews and conversions where applicable
- Assist with the understanding of the governance and reporting requirements for listed businesses
- Discussions and advice on deal structuring
IPO
Our Capital Markets team has extensive experience of acting as reporting accountant on IPOs on the London Stock Exchange and other international exchanges.
Over the past three years we have supported over 40 businesses in a variety of transactions leading to a public listing. Every transaction is different, and we will work closely with you to foresee any issues and head them off.
How we can help
- Full range of reporting accountant services and due diligence reports – including working capital reports, long form reports and FPPP reports
- Accountants’ reports on historical financial information
- Post-listing transactions – including secondary placings and disposals
Specialist transactions
The Capital Markets team at PKF advises on a range of specialist transactions including RTOs, Rule 3 and de-listings. If you are expecting to enter into a complex transaction, the team is well placed to help
How we can help
- Reverse Takeovers (RTO)
- IFRS 3 accounting
- Rule 3 advisory
- De-listings
Audit
The capital markets rely on timely and accurate information, and the publication of audited financial information is an important aspect of enabling stakeholders to assess the financial position of a listed company. We understand the detailed reporting requirements and governance required.
With over 145 clients on either the LSE Main Market or AIM, we have a strong reputation. Understanding of highly regulated, technically complex businesses has become a specialism of ours. Our knowledge of PIEs in a range of sectors puts us ahead of many of our competitors.
How we can help
- Statutory audits
- Audit of Public Interest Entities (PIEs)
- International audits
- PCAOB and CPAB registered
Tax
Due to the public facing nature of the business, listed companies are especially engaged in ensuring that their tax position is accurate and transparent, to prevent the risk of coming under the spotlight for non-compliance.
Audit firms are restricted in the range of services that they can provide to listed audit clients. Where the group is listed on a UK or EU stock exchange such that it is a Public Interest Entity no tax services can be provided by the audit firm. Companies listed on other exchanges (such as AIM and Aquis) may have some tax services provided, subject to ethical and audit independence considerations.
If ethical restrictions allow, our Tax team can provide a range of compliance and advisory services to your listed businesses.
How we can help
- IPO tax services
- Tax health checks
- Advance Assurance support
- Share incentive plans
- Tax due diligence
- Assessment of tax risks
- International tax support and cross-border services
- Transfer Pricing
