Program Brief

A company's IPO is one of the biggest strategic decisions it can make during its financial lifespan and is considered the best way to raise capital and expand in the future. Due to the rapid growth of the financial markets، private companies were able to obtain liquidity، expand their shareholder base، and introduce radical structural and operational changes through public offerings. This training program aims to prepare participants with the knowledge، skills، and tools necessary to originate & execute IPOs. This training program aims to prepare participants with the knowledge، skills، and tools necessary to originate & execute IPOs.

Program Topic
  • Trading and Investment
Program Goals

At the end of the training program, the participant should be able to:

  • Acquiring the knowledge, skills, and mechanisms necessary to successfully complete the public offering deals.
  • Acquiring the necessary knowledge and skills to sign agreements with companies to manage public offerings.
  • Assessment of the companies' readiness to convert to listed joint stock companies.
  • Understand the public offering mechanism & IPO stakeholders’ responsibilities.
  • Presenting a public offering to qualified investors and individuals by preparing an appropriate program.
  • Comprehensive knowledge of the characteristics of the main market and the parallel market.
Program Agenda
Module 1: Origination
  • 1 IPOs at a glance

    • 2 The Issuer

      • 3 Key IPO Advisors

        • Issuer External Auditor (IPO related scope)

          • Financial Advisor (One Advisor with Multi-Roles)

            • Issuer Legal Advisor

              • Financial Due Diligence Advisor

                • Market Study Advisor

                  • Underwriter’s Legal Advisor (Key Market)

                    • PR Advisor

                    • 4 Regulators

                      • Capital Market Authority (“CMA”)

                        • "Saudi Exchange Company “Tadawul

                          • Other Regulators

                          • 5 Investors

                            • Key Institutional Investors Profiles

                              • Retail Investors

                              Module 2: IPO Regulatory
                              • 1 Issuer Obligations

                                • Application for Listing of Shares

                                  • Board Duties

                                  • 2 Financial Advisor Obligations

                                    • Due Diligence Letter

                                      • Underwriting Letter

                                        • Confirmations submitted to the Regulator

                                        • 3 Legal Advisor Obligations

                                          • Due Diligence Letter

                                          • 4 Main

                                            • The Issuer

                                              • Financial Advisor

                                                • Due Diligence Advisors

                                                  • Investors

                                                  • 5 IPOs Origination

                                                    • Understanding IPO objectives

                                                      • Pitching IPO Proposals

                                                        • Key Transaction Considerations

                                                          • IPO Readiness

                                                            • Credentials

                                                              • IPO Roadmap

                                                              • 6 Study Cases

                                                                Module 3: Due Diligence
                                                                • 1 Financial Due Diligence (“FDD”)

                                                                  • Managing Financial Due Diligence Process

                                                                    • Reviewing FDD Report

                                                                      • FDD Lessons Learnt from Previous Transactions

                                                                        • Remedial plan to address findings

                                                                          • Using FDD report to enhance prospectus disclosure

                                                                            • Reviewing MD

                                                                              • Tax Due Diligence Overview

                                                                                • Study Cases

                                                                                • 2 Legal Due Diligence (“LDD”)

                                                                                  • Managing Legal Due Diligence Process

                                                                                    • Reviewing LDD Report

                                                                                      • Related Party Transactions

                                                                                        • Remedial plan to address findings

                                                                                          • Using LDD report to draft prospectus

                                                                                            • Study Cases

                                                                                            • 3 Market Study

                                                                                              • Managing Market Due Diligence Process

                                                                                                • Reviewing Market study

                                                                                                  • Using the market study for the IPO deliverables: market section، business plan

                                                                                                  Module 4: Preparation of Prospectus (in Arabic)
                                                                                                  • 1 Equity Story Illustration

                                                                                                    • Corporate Strategy

                                                                                                      • Investment Thesis

                                                                                                      • 2 Risk Factors: Protecting Issuer Board of Directors

                                                                                                        • General Risks Factors

                                                                                                          • Specific Risk Factors

                                                                                                            • FDD Open Findings

                                                                                                              • LDD Open Findings

                                                                                                                • Lessons Learnt from Previous Prospectuses

                                                                                                                • 3 Management Section: A Key Determining Factor for Investors

                                                                                                                  • Importance of Organizational Structure

                                                                                                                    • Board of Directors

                                                                                                                      • Management Section

                                                                                                                        • Corporate Governance Disclosure

                                                                                                                          • Key Board Resolutions

                                                                                                                          • 4 MD

                                                                                                                            • Revenues Breakdown

                                                                                                                              • MD

                                                                                                                                • Lessons Learnt from Previous Transactions

                                                                                                                                  • Study Cases

                                                                                                                                  Module 5: IPO Valuation
                                                                                                                                  • 1 Preliminary Valuation Views

                                                                                                                                    • Business Plan

                                                                                                                                      • DCF

                                                                                                                                        • Comparable

                                                                                                                                          • Other Considerations

                                                                                                                                          • 2 CMA Submission Documents

                                                                                                                                            • Company’s resolutions

                                                                                                                                              • Board Declarations

                                                                                                                                                • Advisors Consent Letters

                                                                                                                                                  • Advisors Due Diligence Letters

                                                                                                                                                    • Underwriting Letter

                                                                                                                                                      • Prospectus

                                                                                                                                                        • Legal File

                                                                                                                                                          • Other Documents

                                                                                                                                                          • 3 Tadawul Submission Documents

                                                                                                                                                            • Company’s Annex

                                                                                                                                                              • Legal File

                                                                                                                                                                • Other Documents

                                                                                                                                                                Module 6: Investors’ communication
                                                                                                                                                                • 1 Early Look Presentation:

                                                                                                                                                                  • Investors Profiling

                                                                                                                                                                    • Meeting Objectives

                                                                                                                                                                      • ELP Content

                                                                                                                                                                      • 2 Bookrunners Appointment

                                                                                                                                                                        • Objectives

                                                                                                                                                                          • Importance of Research Analysts

                                                                                                                                                                            • Importance of Organizational structure

                                                                                                                                                                              • Board of Directors

                                                                                                                                                                              • 3 Research Analysts

                                                                                                                                                                                • Research Reports Added Value to the IPO

                                                                                                                                                                                  • Analyst Presentation process

                                                                                                                                                                                  • 4 Pilot Fishing to Build “Anchor” Demand Base: Marketing Plan

                                                                                                                                                                                    • Intention To Float (“ITF”)

                                                                                                                                                                                      • Research Reports Publication

                                                                                                                                                                                        • Investor Communication

                                                                                                                                                                                          • Roadshows

                                                                                                                                                                                            • Retail Subscription

                                                                                                                                                                                              • Allocation

                                                                                                                                                                                              Program Requirements
                                                                                                                                                                                              • The exam applicant must have a high school Degree

                                                                                                                                                                                              -

                                                                                                                                                                                              Program Method
                                                                                                                                                                                              • Lecture
                                                                                                                                                                                              • Case Studies
                                                                                                                                                                                              • Dialogue Teams
                                                                                                                                                                                              • Exercises and assignments
                                                                                                                                                                                              Evaluation Method
                                                                                                                                                                                              • Pre Exam
                                                                                                                                                                                              • Post Exam
                                                                                                                                                                                              • Discussion Panel
                                                                                                                                                                                              • Research or Project
                                                                                                                                                                                              Training Type
                                                                                                                                                                                              • In Class Training
                                                                                                                                                                                              • Online Training

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