Listing Debt Securities
At PoMSOX, we can provide your company or trust with invaluable access to retail and institutional investors and exposure throughout the world. By listing with PoMSOX, you will enter a new phase in your organisation’s development where you will become part of a select group of organisations on the global capital stage. Listing on PoMSOX has helped thousands of companies achieve their growth ambitions and successfully make the transition to public ownership.
Why do organisations list
What is Listing?
It is the process of taking a privately-owned organisation and making the transition to a publicly-owned entity whose shares can be traded on a stock exchange.
The world’s stock exchanges have been listing companies, trusts and other products for hundreds of years, so the benefits of listing are well known to the market.
You need to examine a wide range of factors in order to gauge is your organisation ready to list.
How do organisations list?
The timetable for listing depends on the complexity and scale of the transaction, how quickly the listing can be prepared and how quickly funds are received from investors. The amount of time taken to list can range from three months to two years, with six months being typical.
The road to an initial public offering (IPO) usually involves the following steps:
Step 1: Appoint advisers
Step 2: Talk to PoMSOX
Step 3: Prepare and lodge prospectus
Step 4: Apply to list
Cost of listing
Click here to view the listing fee schedule.
Road Map to Initial Public Offering (IPO)
STEP 1. Appoint Expert Advisors
Entities wishing to undertake an Initial Public Offer (IPO) must carefully plan their road map to a successful IPO and subsequent listing. When undertaking an IPO, an entity will always want their shares to be fully subscribed to or for all shares to be fully allotted or taken up by investors.
This will result is the company raising the required capital for expansion and growth. An entity can not go on this path alone, it need expertise advise and partners and consultants to provide expert advise on a number of issues prior to undertaking fund raising. Therefore an entity should consider appointing expertise in the following field to provide advice as well as undertake specific task to ensure that the company is ready to be listed.
The following list of expert advisors is not an exhaustive list but only serve as a guide.
a) Sponsoring Brokers
The role of the sponsoring broker is to spearhead the fund raising drive on behalf of the company. Stock brokers have a huge investor base in which they can sell the investment product to their clients
b) Legal Advisors
Legal advisors will provide advice on a whole range of aspect regarding the corporate action especially in preparing prospectus, disclosure of material information and contracts as well as other legal matters
c) Accountant and Auditor
Accountant and Auditors will be tasked to prepare all financial information regarding the product to be offered to investor. They may also provide other services in respect to financial and material information regarding the company
d) Marketing Experts
Marketing experts can provide valuable advice on how to market the prospectus to a wide array of investors both locally and internationally.
e) Industry Experts
Industry experts provide forecast and projections and provide specific information about the industry in which the company operates. Be it mining, oil, gas, agriculture, finance, forestry, industrial etc…..
STEP 2 Liaise with POMSoX
It is advisable that companies maintain an open dialogue with the Stock Exchange while going through the process of getting it listed. This is to ensure that all necessary conditions of listing are addressed and the process of facilitating a listing will be adhered to and complied with after the conclusion of fund raising activity.
POMSoX encourages companies to discuss with its relevant officers all necessary details regarding the listing of the company in order to get it right the first time. Continuous discussions with POMSoX in setting the path to listing are considered vital so that appropriate advice is given in regard to the entity’s application for listing. In this way, all issues can be addressed and settled prior to the entity lodging its application to be admitted to the Official list of the Port Moresby Stock Exchange.
STEP 3 Lodge Application with POMSoX
Companies can be admitted to the Official list of the Port Moresby Stock Exchange under any of the three categories;
a) General Admission
b) Debt Issuer
c) Exempt Foreign Entity
Companies intending to list must comply with the requirements under the POMSoX Listing Rules.
STEP 4 Admission to the Official List
Once an application is lodged, it is reviewed by the Listing Department. The review and processing of the application normally takes about 4 – 6 weeks for a full and complete assessment of an entity’s application.
When the Listing Manager is satisfied that the entity has sufficiently met all necessary requirements under the POMSoX Listing Rules, a submission is prepared and issued to the POMSoX Board of Directors to consider the application. Upon granting of an approval from the Board, the entity is advised of this notice and preparations are made for the Listing ceremony.
Once the entity is admitted to the Official List of POMSoX, trading in an entity’s securities will commence immediately.