IPO and ECM Advisory

FIH Partners advised SEAS-NVE in an ABB placement of Ørsted shares

Learn more

IPO and ECM Advisory

FIH Partners advised FSN Capital and the founders on the IPO of Netcompany

Learn more

IPO and ECM Advisory

FIH Partners acted as IPO advisor to Pandora A/S and Prometheus Invest ApS

Learn more

IPO and ECM Advisory

What you should consider

As the owner of a private company considering an initial public offering (IPO), a listed company contemplating a capital increase, or the owner of a block of shares in a listed company contemplating to sell the block, you are faced with a number of important questions including:

  • Is the company ready for a public listing?
  • Is the equity story suitable for a listing, and how is the company best positioned?
  • When and where should the company be listed?
  • How do you best initiate the process and select the best advisors?
  • How do you select the best syndicate of banks to help with the actual offering?
  • How do you ensure that the bank syndicate is appropriately incentivised without overpaying?
  • How do you ensure effective collaboration between all the parties involved and avoid conflicts of interest?
  • What is the optimal structure for the offering?
  • How do you best position the company with institutional and retail investors?
  • What will investors be willing to pay for the company?
  • How do you ensure an appropriate, diversified and high quality shareholder base?
  • What can be done to optimise aftermarket performance and liquidity?

Many of these questions are equally important for listed companies considering a capital increase and for shareholders contemplating a secondary sale of a significant stake in a listed company.

How we assist our clients

An equity offering, particularly an IPO, is a lengthy and complicated process with numerous advisors serving different stakeholders – some with conflicting interests. It is challenging, and time-consuming for owners and management to design and manage this process effectively.

Our partners have advised on IPOs, share issues and accelerated bookbuildings/block trades on OMX Copenhagen since 1997. We offer high quality, independent and impartial advice and support in designing, preparing and executing equity offerings. We are typically involved in connection with an IPO, where we plan and manage the work-flow as well as decision-making throughout the process, from early preparations to pricing, with the objective to maximise the transparency, control and effectiveness of the process. We have a long and positive track record for working seamlessly and efficiently with local as well as international syndicate banks in this context.

Our services include

Strategy, preparations and positioning:

  • Assessment of company preparedness, timing and review of shareholder alternatives
  • Early company preparation including project planning, business plan assessment, equity story positioning, early investor contact, corporate governance and board composition
  • Positioning, capital structure, dividend policy and value maximisation

Syndicate selection and management:

  • Selection of bank syndicate and other advisors, including preparation and execution of beauty contest, syndicate structuring, negotiation of engagement terms and implementation of cost control measures
  • Supervising and/or coordinating IPO preparations, including due diligence, prospectus, equity story development and documentation
  • Ongoing monitoring/discussion of syndicate banks’ views on positioning and valuation throughout the process


  • Problem solving and dispute resolution to ensure a smooth, efficient process
  • Structuring, monitoring and reviewing the marketing process, including early-look meetings, analyst presentation, pilot fishing, pre-deal investor education and management roadshow
  • Review, analysis and triangulation of investor education and roadshow feedback
  • Pricing, sizing and allocation tactics and decisions

Our services to listed companies and block holders include the design and execution of share issues, rights issues and accelerated bookbuildings.