The IPO journey
Six connected stages, with clear responsibilities at every handoff. Explore the approach set out in Turnaround’s company presentation.
Explore the six stages
The whole picture
Preparation, documentation and review often overlap. The sequence below explains the work; the exact timetable depends on the company, the route and the applicable requirements.
Stage 01 / 06
Put the company’s structure, financial records and governance in order before beginning the offer process.
Inside each stage
The company, its advisers and appointed intermediaries contribute different pieces. Each stage creates the foundation for the next.
01 / Prepare
Put the company’s structure, financial records and governance in order before beginning the offer process.
The handoffA preparation plan and organised corporate records.
02 / Review
Bring legal, financial and business information into a coordinated review that supports the offer disclosures.
The handoffReviewed information and a tracked list of disclosure matters.
03 / Document
Translate the business, its risks and its proposed use of capital into the relevant offer document.
The handoffA coordinated draft offer document and supporting filing materials.
04 / Respond
Coordinate responses and exchange requirements under the process applicable to the proposed offering.
The handoffResponses to review queries and the applicable permissions.
05 / Connect
Help management communicate the business and the offer to prospective investors through the permitted process.
The handoffManagement preparation and coordinated investor communication.
06 / List
Bring the issue mechanics together through pricing, subscription, allotment and listing support.
The handoffIssue, allotment and listing coordination, followed by the listed-company handover.
The company roadmap
The presentation also maps the company’s transition from a private entity to a publicly traded business. This overview includes governance and intermediary appointments as well as offer milestones.
Private entity
Pre-IPO preparation
Conversion to a public limited company
Appointment of intermediaries
Board and leadership appointments
Draft offer document filing
Applicable regulatory and exchange review
Marketing and roadshows
IPO opens
Allotment and listing
Life as a publicly traded company
Company information: Turnaround company presentation, 6 October 2026. Experience and mandates refer to the collective team where stated.
Choose the appropriate route
The preparation framework is connected, while eligibility, disclosures and review requirements differ. Explore the relevant service before defining a transaction plan.
A little more clarity
No. The sequence explains the work involved. Preparation, review questions, company decisions and applicable requirements determine the actual timetable.
No. SME and mainboard routes have different requirements. The relevant exchange and regulatory process must be assessed for the proposed issue.
No. Preparation and coordination support the process. Approvals, participation, pricing and completion depend on the requirements and circumstances of the issue.
Continue exploring
A clear starting point for promoters considering public markets. Bring the company’s structure, financial information and governance into one preparation plan.
Coordinate financial, legal and business information so the offer document is supported by a consistent, traceable set of records.
Connect the company, advisers, registrar and exchanges around a shared plan, from offer documentation through allotment and listing.
Support management through the continuing responsibilities of a listed company, from disclosures and proceeds monitoring to investor communication.
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