Going Public Checklist Deutsche Brse listing: welcome to your future

Disclaimer: Deutsche Brse AG, Eurex Deutschland and FWB Frankfurter Wertpapierbrse do not represent that the following information is comprehensive, complete or accurate. Accordingly, no person should rely on any information contained herein. Deutsche Brse AG, Eurex Deutschland and FWB Frankfurter Wertpapierbrse are not responsible or liable for any consequence resulting from acting upon the contents of this or another site.

Planning and preparation

Structuring

Realization and marketing

Price determination and Secondary Market

Overview
A flotation starts long before the first trading day. From the decision to go public until the admission to listing, issuers must go through numerous processes. Among other steps, these include: recruiting appropriate partners, checking whether the requirements for Going Public are met through due diligence, elaborating the issuing concept and the equity story as well as setting up an efficient corporate organization. Our checklist helps you to optimally prepare your flotation step by step up to the first price determination.

Disclaimer: Deutsche Brse AG, Eurex Deutschland and FWB Frankfurter Wertpapierbrse do not represent that the following information is comprehensive, complete or accurate. Accordingly, no person should rely on any information contained herein. Deutsche Brse AG, Eurex Deutschland and FWB Frankfurter Wertpapierbrse are not responsible or liable for any consequence resulting from acting upon the contents of this or another site.

Planning and preparation

Structuring

Realization and marketing

Price determination and Secondary Market

Phase 1: Planning and preparation

Recruiting advisors: Deutsche Brse Listing Partner Recruiting a syndicate bank In a so-called beauty contest, the company presents itself to various banks. Based on the information provided, the banks rate the company and submit an offer to the IPO candidate. Meeting legal requirements for the IPO within the company Based on its legal form and size, the company creates organizational and structural conditions for its floatation, such as changing its legal form into a stock corporation, implementing and regulating responsibilities for management and supervisory boards. Strategy discussion The company defines its strategy for the IPO in conjunction with its advisors and syndicate bank: Determination of the transaction structure (e.g. shareholder structure following the IPO, decisions about capital increases) eliberations about the motivation behind the IPO (e.g. currency for an acquisition or to finance growth) Deliberations about future use of the capital market

Sample of a timetable

Disclaimer: Deutsche Brse AG, Eurex Deutschland and FWB Frankfurter Wertpapierbrse do not represent that the following information is comprehensive, complete or accurate. Accordingly, no person should rely on any information contained herein. Deutsche Brse AG, Eurex Deutschland and FWB Frankfurter Wertpapierbrse are not responsible or liable for any consequence resulting from acting upon the contents of this or another site.

Planning and preparation

Structuring

Realization and marketing

Price determination and Secondary Market

Phase 2: Structuring

Prepare business plan and IPO strategy Administration of registered shares Select the admission segment: Prime Standard, General Standard, Entry Standard Select a liquidity provider in trading: Designated Sponsors, Deutsche Brse Listing Partner Prepare Equity Story

Due Diligence Prepare prospectus

The prospectus must contain all information necessary for investors to determine if they will subscribe to the listing (e.g. products, competition, markets, ownership breakdown, possible risks): Wertpapierprospektgesetz Securities Prospectus Act (German only)

Disclaimer: Deutsche Brse AG, Eurex Deutschland and FWB Frankfurter Wertpapierbrse do not represent that the following information is comprehensive, complete or accurate. Accordingly, no person should rely on any information contained herein. Deutsche Brse AG, Eurex Deutschland and FWB Frankfurter Wertpapierbrse are not responsible or liable for any consequence resulting from acting upon the contents of this or another site.

Planning and preparation

Structuring

Realization and marketing

Price determination and Secondary Market

Phase 3: Realization and marketing

Brief analysts Guarantee and publish research coverage Prospectus Publishing a prospectus

File application for admission: Application form Contact investors Prepare IR activities Establish an IR department Draft of a catalogue of IR procedures: Being Public checklist

Disclaimer: Deutsche Brse AG, Eurex Deutschland and FWB Frankfurter Wertpapierbrse do not represent that the following information is comprehensive, complete or accurate. Accordingly, no person should rely on any information contained herein. Deutsche Brse AG, Eurex Deutschland and FWB Frankfurter Wertpapierbrse are not responsible or liable for any consequence resulting from acting upon the contents of this or another site.

Planning and preparation

Structuring

Realization and marketing

Price determination and Secondary Market

Phase 4: Price determination and Secondary Market

Price determination and delivery process Fixed price or bookbuilding process Preferred subscription for private investors, early subscriber bonus, etc.

First price determination Electronic price determination on Xetra: Xetra-start Price determination using market makers

First trading day Media presence on the first day of trading: Welcome-Event Price stabilization and green shoe option

Disclaimer: Deutsche Brse AG, Eurex Deutschland and FWB Frankfurter Wertpapierbrse do not represent that the following information is comprehensive, complete or accurate. Accordingly, no person should rely on any information contained herein. Deutsche Brse AG, Eurex Deutschland and FWB Frankfurter Wertpapierbrse are not responsible or liable for any consequence resulting from acting upon the contents of this or another site.