Navigating IPO Complexity: A Real-Estate Success Story with BPiON
Check how we supported our Real Estate Customer to successfully IPO
Companies might face numerous challenges in meeting various financial responsibilities and deadlines, but navigating an IPO (Initial Public Offering) stands as one of the most complex. It’s not just about meeting stringent deadlines set by authorities or preparing comprehensive audited financial statements.
Undertaking an IPO also demands crucial business decisions regarding present and future management strategies and tactics. This is vital to offer a transparent and complete view of the company and to cultivate market interest. Given the myriad of stakeholders involved in an IPO process, employing project management skills and an organized methodology is of supreme importance during this procedure.
Challenge
Our client, a prominent company in the real estate sector specializing in providing logistical buildings to FMCG customers across various CEE markets, was preparing for an IPO on their local market.
To attract foreign investors, they opted to transact in EUR and adhere to IFRS standards. The real estate industry often leans towards outsourcing numerous functions, meaning that our client’s stakeholders included various external entities such as property management, facility management, legal teams, investment banking advisory, and audit, among others.
The primary needs and challenges identified were:
- Coordinating all stakeholders to ensure a triumphant IPO, necessitating the appointment of a senior project manager,
- Establishing a regional account management function to pinpoint in-country differences and strive for maximal standardization,
- Engaging subject matter experts well-versed in taxation and accounting,
- Amplifying the workforce for the project, given that producing multiple audited financial statements posed an additional burden on staff managing daily routine transactions.
Solution
After hiring BPiON to address these needs and challenges with our fast-moving project office approach, the immediate step we took was to assign a senior project manager responsible for:
- Managing daily tasks and schedules,
- Establishing and maintaining a risk management matrix throughout the project’s duration,
- Overseeing stakeholders, with a focus on third-party specialists in areas like legal and IFRS advisory,
- Leading regular meetings,
- Producing project documentation leveraging Smartsheet tool.
BPiON takes pride in being a management-owned company, therefore recognizing the project’s importance, we designated a partner to the delivery team. This decision accelerated escalation processes, if required. Whenever the need arose to deploy extra resources due to increased audit demands, our leadership team had the up-to-date information at their disposal, ensuring decisions within a day.
Once the local project management and escalation functions were in place, we aimed to accelerate multi-country communication as well as ensure efficient information dissemination, change requests and expectations to various local stakeholders, improving standardization. Regional account management function was crucial to reach these objectives across various local jurisdictions, allowing local colleagues to focus on their local tasks and compliance issues.
Many companies claim a “people-first” philosophy. However, at BPiON we believe that a distinctive organizational structure, combined with the allocation of subject matter experts where they are most needed, is fundamental to successfully delivering outsourcing projects that meet customers’ complex demands.
Result
The client achieved a successful IPO, securing funds for further expansion in scenarios where loan financing is either unavailable or offered under rigid terms.
This success was guaranteed by BPiON’s project management approach, which broke down the complex project into more manageable segments.
By assigning appropriately skilled resources and establishing rapid escalation routes to top management, we ensured the highest-level of client care and adaptability.
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