均富會計事務(wù)所

CorporateFinanceAustralia

澳洲公司財務(wù)

ListingProcessandAccounting

Requirements

上市程序及會計要求

KenYeo/ChrisParkinson 均富會計師事務(wù)所

1Presentation內(nèi)容引見 1 AboutGrantThornton 關(guān)于均富國際 2 Ourexpertise 公司專長 3 IPOsinAustralia 澳洲上市 4WhyGrantThorntonCorporateFinance?為何選擇均富5Ourservices 我們的效力6Accountant'sRoleinanIPO 會計師在IPO過程中的角色7Ourcredentials 公司資質(zhì)及聯(lián)絡(luò)方式2AboutGrantThorntonInternational

關(guān)于均富會計師事務(wù)所(1)GrantThorntonInternationalisanumbrellaorganisationforindependentfirmsthatworkcloselytogether.GrantThorntonInternational(1)isthefifthlargestorganisationofaccountingandconsultingfirmsworldwide. 均富是全球第五大會計咨詢公司520officesin113countries,withmorethan22,000staff,andacombinedturnoverofUS$3.5billion(2007). 在113個國家擁有超越520家事務(wù)所,過22000名員工,2007年營業(yè)收入達(dá)35億美圓AtGrantThorntoneveryclientgetspersonalisedservice. 均富為每一位客戶提供個性化的效力Globally,GrantThorntonisamarketleaderinadvisingmiddlemarketentrepreneurialbusinesses. 作為全球咨詢業(yè)的指點者,均富竭誠為企業(yè)提供專業(yè)意見GrantThorntonInternationalisanumbrellaorganisationforindependentfirmsthatworkcloselytogether. 均富由世界各地的獨立成員所組成，各均富成員所不斷堅持嚴(yán)密聯(lián)絡(luò)3AboutGrantThorntonAustralia

關(guān)于均富會計師事務(wù)所GrantThorntonAustraliahasofficeslocatedinSydney,Melbourne,Brisbane,PerthandAdelaide. 均富(澳大利亞)在悉尼,墨爾本,布里斯班,柏斯及阿德萊德都有分所80partnersandover600professionalstaffinAuditandAssurance,BusinessOwnerServices,Tax,andSpecialistAdvisoryServicesincorporatingCorporateFinance. 在澳洲,均富擁有80名合伙人及600多位專業(yè)人員,主要業(yè)務(wù)包括審計,業(yè)主效力,稅務(wù)及公司財務(wù)咨詢Dedicatedpartnerled,distinctandtailoredservicetoitsclients. 由專注的合伙人所指點的均富，為每一位客戶提供量身定做的效力GrantThorntonCorporateFinanceprovidesTransactionServices,Mergers&Acquisition,CapitalMarketsandValuationServices. 均富公司財務(wù)咨詢部提供買賣咨詢,并購,資本市場及價值評價等效力4OurExpertise

公司專長5GrantThorntonCorporateFinanceAustralia

均富財務(wù)咨詢效力(澳洲)Advisingentrepreneurialbusinessesthroughtheirvariousstagesofdevelopment. 為企業(yè)提供各階段開展的建議及咨詢A"onestopshop"approachtoallcorporatefinanceengagements. 提供一站式公司財務(wù)效力Providingsolutionstoinitialpublicofferings("IPO"),mergers&acquisitionsandothercapitalraisingissues. 提供IPO,并購及其它融資方案Ourprofessionalstaffhavearangeofdiversebackgroundsincludinginvestmentbanking,audit,taxandrestructuring. 我們擁有來自不同領(lǐng)域的專業(yè)人士,包括投資銀行,審計,稅務(wù)及企業(yè)重組In2007,weadvisedclientsintransactionsvaluedatoverAUD3.0billion. 2007年,在澳洲我們?yōu)榭蛻籼峁┑淖稍冃ЯI賣額到達(dá)30億澳元6FullServiceOffering

公司提供的效力Services效力DetailedServices效力內(nèi)容M&A并購Mergersandacquisitions 并購Privateequitydeals 私募基金買賣MBIs/MBOs 外部融資收買/管理層收買Disposals 資產(chǎn)處置Debtrefinancing 債務(wù)再融資FinancialModelling 金融建模ASXListings 澳大利亞證券市場上市CapitalRaising 資本募集Debt-EquityInstruments 債務(wù)/權(quán)益融資工具CorporateStructuring 企業(yè)架構(gòu)Underwriting 證券承銷 DualListings 雙重上市EquityCapitalMarkets資本市場7FullServiceOffering

公司提供的效力Financial/Vendorduediligence 財務(wù)/賣方盡職調(diào)查Taxduediligence 稅務(wù)盡職調(diào)查Independentaccountantsreport 獨立會計報告Forecastreviews 財務(wù)預(yù)測審核TransactionServices買賣效力BusinessValuations企業(yè)評價IndependentValuations 獨立評價IndependentExpertReports 獨立專家報告Majority/MinorityInterests 大股東/少數(shù)股東股東權(quán)益Options 期權(quán)Fairvalueassessment 公允價值評價Purchasepriceallocation 購置價錢分配Services效力DetailedServices效力內(nèi)容8IPOsinAustralia

澳洲上市9KeyConsiderationsforIPOsinAustralia

澳洲上市的主要考量事項ASXlistingrulesonProfitorAssetsTest 需符合的利潤或資產(chǎn)條件Auditedaccounts(someflexibilityonnumberofyearsofauditedaccounts) 經(jīng)審計財務(wù)報告(年數(shù)可略有變化)Minimumnumberofshareholders 最少股東人數(shù)10KeyConsiderationsforIPOsinAustralia

澳洲上市的主要考量事項CorporateGovernance公司治理EffectiveCorporateGovernanceincluding: 有效的公司治理包括Boardcomposition; 董事會組成Appropriatemanagementteam; 適當(dāng)?shù)墓芾韴F(tuán)隊GovernanceproceduresincludingAuditandRemunerationCommittees. 公司治理程序，包括審計委員會及薪酬委員會ProspectusDisclosure招股闡明書披露Useoffunds; 資金的運用ASICrequirementsforforecastfinancialinformation; ASIC(澳洲證券投資委員會)關(guān)于財務(wù)預(yù)測的要求HistoricalFinancialandProformainformation; 歷史財務(wù)數(shù)據(jù)及方式財務(wù)數(shù)據(jù)Verificationofcontentsofprospectus. 對招股闡明書進(jìn)展審查11BenefitsofanASXlisting

ASX上市的優(yōu)勢Benefit優(yōu)勢Keycharacteristics特點GreaterglobalequitymarketstatusandcredibilityASX是全球性的權(quán)益市場，擁有極高的信譽(yù)度ASXisa"globallyrecognizedstockexchange"withamarketcapitalisationofAUD1.60trillion全球認(rèn)可的證券市場,市場資本達(dá)1.6兆澳元Strong,persistentmarketgrowth強(qiáng)勁持久的市場增長力91%increaseinmarketcapitalisationfrom2000to20072000年至2007年市場資本增長了91%AbilitytouseAustralianlistedsharestofundAustralianacquisitions有利于使用澳洲資本實現(xiàn)當(dāng)?shù)夭①廙anytargetAustralianshareholderspreferpaymentindomesticequity澳洲目標(biāo)公司股東偏好國內(nèi)股票12BenefitsofanASXlisting

ASX上市的優(yōu)勢Benefit優(yōu)勢Keycharacteristics特點Marketaccessibility市場進(jìn)入度Australianandinternationalinvestors(includingfromadditionalplacements)澳洲及國際投資者可直接投資您的公司(包括額外配售)Markettransparency市場透明度Investorsmoreconfidentduetotransparentandliquidmarket由于有高透明度和更好的流通性,投資者會更具信心13ASXlistingcostsestimate

上市費用TotalRaising($M)總募集資本($百萬)TotalCostRange($M)總費用($百萬)CostRate(%)費用比率(%)Below$20低于$20

$1.6-$2.08%-10%$30to$50 $2.1-$3.05%-9%Above$50超過$50Variable 根據(jù)情況不同4.5%-6%14WhyGrantThorntonCorporateFinance?

為何選擇均富?15Ourservicesforentrepreneurialbusinesses...我們?yōu)槠髽I(yè)提供的效力...WhyGrantThorntonCorporateFinance?

為何選擇均富?PreIPOadviceandgroomingtomaximisevaluation上市前建議,幫助實現(xiàn)公司最佳價值估算Introductiontoappropriateinvestorsandprofessionals向公司推薦合適的投資人,專業(yè)機(jī)構(gòu)ManagementofIPOprocesstolisting管理整個上市過程YourNeeds:您的需求:16Ourservicesforentrepreneurialbusinesses...我們?yōu)槠髽I(yè)提供的效力...WhyGrantThorntonCorporateFinance?

為何選擇均富?Multidisciplinedteamwithfullspectrumofcorporateadvisory,accountingandtaxationstructuringexperience.跨領(lǐng)域并且富有經(jīng)驗的團(tuán)隊.Provenstep-by-stepgroomingprocesstoasuccessfulIPO.行之有效的上市方案.Deeprelationshipswithbrokers,lawyers,otherprofessionalsandprivatesourcesofcapital.與券商,律師,專業(yè)人士及其它投資者均有深入合作.Delivers:我們提供:17IndepthexperienceinpreparingandassistingcompaniestocompleteasuccessfulIPO. 我們協(xié)助過眾多企業(yè)勝利上市Ourfinancialmodellingandreviewofbusinessplanswillensure: 我們的金融建模效力及對商業(yè)方案書的審閱,可以keyissuesareidentifiedearly; 及早發(fā)現(xiàn)問題chancesofsuccessaremaximised;and 加大上市勝利的時機(jī)disruptionsduetoinaccuraciesorinconsistenciesinthefinancialmodelandbusinessplanareavoided. 減少金融模型和商業(yè)方案書中的錯誤和矛盾DedicatedCapitalMarketsteam...專注的資本市場團(tuán)隊...WhyGrantThorntonCorporateFinance?

為何選擇均富?18TrackrecordonIPOsinAustraliain2007

2007年度澳大利亞IPO的記錄ReportingAccountantsRole報告會計師NumberofIPOsIPO數(shù)量1BDO德豪312GrantThornton均富23*3KPMG畢馬威214Ernst&Young安永195PricewaterhouseCoopers普華永道17Source:Connect42007IPOSurvey*ExcludinglistingsbyournewPerthoffice不包括柏斯分所的上市數(shù)據(jù)19OurServices

我們的效力20GrantThornton'sservices

AsLeadAdviserandCo-ProjectManagerourserviceswillinclude...

ActingwithTGBasLocalAgentsinAustraliaAssistingwithselectionandengagementofadvisersAssistancewithallrequireddocumentationIntroductionofbrokersandinstitutionalinvestorsLiaisingwithTGB,otheradvisors,theASXandASICAssistingTGBtoprojectmanagethelistingprocess21均富的效力

作為一個優(yōu)秀的上市顧問-我們?yōu)槟峁┮韵滦Я?/p>

與TGB協(xié)作為您提供在澳洲的效力協(xié)助您挑選上市顧問協(xié)助處置一切必要的文件引薦券商與機(jī)構(gòu)投資者與TGB，其他顧問以及澳洲證券買賣所和澳洲證監(jiān)會堅持親密聯(lián)絡(luò)協(xié)助TGB管理上市流程22ThelistingprocessPreliminaryDocumentationItemDetailCommentAdvisers&informationEngagement;timetable,planning,informationgatheringandappointmentofadvisers.CoordinatingplansandotheradvisersGroomingReviewofoperations,historicalfinancialstatementsandforecasts;andappraisalofkeystaff.FormulatingbenchmarksasperplansValuation,placement,andlodgingprospectusDesktopvaluationanalysis;structuring,preliminarypricing;preparationandlodgementofprospectuswithASIC.Understandingvaluedrivers,cashandminimumsharespreadrequirements.Grooming0–1month1–3months3–6months23上市流程籌備階段文檔階段項目細(xì)節(jié)評價顧問及信息收集計劃上市時間表；收集公司信息；聘用顧問協(xié)調(diào)上市計劃推薦評估歷史財務(wù)狀況并且預(yù)測未來財務(wù)狀況；評估主要的管理層理解管理層的計劃以及陳述基準(zhǔn)評估，定位，構(gòu)架，準(zhǔn)備并且提交招股說明書桌面評估分析；初步定價；準(zhǔn)備并提交招股說明書理解價值驅(qū)動因素,現(xiàn)金的需求和最少的股票分配要求引薦階段0–1個月1–3個月3–6個月24ThelistingprocessPreliminaryDocumentationMarketingCompletionItemDetailCommentMarketingPotentialplacees,marketingmaterials,investor/institutionalroadshows,andpotentialcommitments.GrantThorntonwill:Assistwithpreparationofprospectusandpresentationmaterials;liaisewithbrokers,placeesandotherkeystakeholdersPlacementandcompletionofprocessFinaliseshareplacementandlistingprocess,allotandissueshares.IPOTimingConsiderations:Marketandeconomicconditions.Appropriatemarketing“window〞e.g.shouldnotcoincidewithpeakreportingandholidayperiods.ConsiderIPOspipelinefor2021.6–12months25上市流程PreliminaryDocumentation宣傳階段完成階段項目細(xì)節(jié)評價宣傳推廣準(zhǔn)備宣傳資料，路演，告知投資者潛在的承諾。均富將會:

協(xié)助籌備招股說明書與宣傳資料

管理協(xié)調(diào)與證券行，承銷商以及其他重要參與方的關(guān)系完成上市分配并且發(fā)行股票，完成整個在澳洲證券交易所上市的全過程。IPO時間段需求思索的幾點:市場與經(jīng)濟(jì)條件。適中選擇宣傳期，例如盡量不要與報告頂峰期或者公眾假期相沖突。適當(dāng)思索2021年度的IPO安排。6–12個月26Accountant'sRoleinanIPO

報告會計師在IPO中的角色

27Accountant'sroleinanIPO

報告會計師在IPO中的角色I(xiàn)nvestigatingaccountants調(diào)查會計師TheAccountant'sroleduringtheIPOprocessincludes: 報告會計師在IPO中的角色包括:Actingasinvestigatingaccountant 調(diào)查會計師Producingtheaccountant'sreport 出具會計報告Identifyingpotentialissuesatanearlystage 在上市最初階段發(fā)現(xiàn)潛在問題TailoringsolutionsinordertomeettheagreedIPOtimetable 為IPO時間表的順利實施制定處理方案CarryingoutfinancialduediligenceinrelationtoacquisitionspriororaftertheIPO. 在IPO的前后的并購中進(jìn)展財務(wù)盡職調(diào)查28Accountant'sservices

報告會計師效力Investigatingaccountantservices調(diào)查會計師效力AssuranceservicespriorandpostIPOIPO前期與后期的鑒證效力ReportingunderAIFRS以澳洲財務(wù)報告準(zhǔn)那么為根據(jù)進(jìn)展報告Preparationofanaccountantsreport預(yù)備會計報告Reviewofprospectivefinancialinformation評價預(yù)期的財務(wù)信息Assistancewiththeprospectus協(xié)助編寫招股闡明書Duediligencerecommendations提供盡職調(diào)查建議Technicalaccountingadvice提供會計技術(shù)問題咨詢Attendingduediligencecommitteemeetings出席盡職調(diào)查會議Provisionoftaxationservices提供稅務(wù)咨詢29Accountant'sscope

報告會計師的任務(wù)范圍Procedures程序Conductduediligenceonthehistoricalfinancialinformationtoensureconsistency 對歷史財務(wù)信息進(jìn)展盡職調(diào)查以確保數(shù)據(jù)一致性Consideradjustmentstoauditedfinancialinformation 對經(jīng)審計的財務(wù)數(shù)據(jù)思索做適當(dāng)?shù)恼{(diào)整Reviewtheproformabalancesheetforinclusionintheprospectus 對招股闡明書上的方式資產(chǎn)負(fù)債表進(jìn)展審核Reviewtheforecastfinancialinformationincludingthereasonablenessoftheforecastassumptions 評價預(yù)測財務(wù)信息，包括評價預(yù)測假設(shè)的合理性Considerproposedoperatingchangesandrelatedadjustmentstothefinancialinformationintheprospectus 根據(jù)運營變化對招股闡明書的財務(wù)信息上思索做相關(guān)的調(diào)整30Accountant'sscope

報告會計師的任務(wù)范圍Procedures程序EnsurefinancialinformationpresentedintheprospectuscomplieswithAIFRS 確保招股闡明書上的財務(wù)信息符合澳洲財務(wù)報告準(zhǔn)那么要求Providerelevantanalysisandfindingstomanagement 向管理層提供相關(guān)的分析及調(diào)查結(jié)果AdviseontaxationissuesandimplicationsasaresultoftheIPO 提供稅務(wù)建議及分析IPO對稅務(wù)的影響Preparetheinvestigatingaccountant'sreport 預(yù)備調(diào)查會計報告31Forecastrequirements

預(yù)測要求Prospectivefinancialinformation預(yù)期的財務(wù)信息Directorsarerequiredtohavea“reasonable〞basisfortheinclusionofanyprospectivefinancialinformationintheprospectus. 對于招股闡明書包含的任何預(yù)期財務(wù)信息，董事們都需求有一個“合理的〞根據(jù)Prospectivefinancialinformationcanbe“forecasts〞or“projections〞. 預(yù)期的財務(wù)信息可以是“預(yù)測〞或者“推算〞Forecastsarepreparedbasedonfutureeventsandactionswhichmanagementexpectstotakeplace. 預(yù)測是以管理層對于未來期望會發(fā)生的事件和行動為根據(jù)的Projectionsarepreparedonfutureeventsandactionswhichmanagementdonotnecessarilyexpecttotakeplace. 推算是以管理層對于未來非必需發(fā)生的事件和行動為根據(jù)的32Accountant'sreview

會計師對預(yù)測財務(wù)信息的評價Reviewofprospectivefinancialinformation預(yù)期的財務(wù)信息評價Ourreviewwillbeinaccordancewith: 我們的評價將會以下面的規(guī)定為根據(jù):AustralianSecuritiesandInvestmentCommission(“ASIC〞)PolicyStatement170“ProspectiveFinancialInformation〞and; 澳大利亞證券和投資委員會(“ASIC〞)政策第170條“預(yù)期財務(wù)信息〞與AuditingandAssuranceGuidanceStatement(“AGS〞)1062‘ReportinginconnectionwithProposedFundraising’. 審計與保證指點聲明(“AGS〞)第1062條‘關(guān)于方案的募集資金報告’“ReportonDirectorsForecasts〞willbeprovidedforinclusionintheProspectus. “關(guān)于董事預(yù)測的報告〞將會包含在招股闡明書中

33Ourcredentials

公司資質(zhì)及聯(lián)絡(luò)方式34RecentIPOclients

最近IPO客戶MobilephonenetworkingservicesFundsraised$21millionMarketcapon