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Market listing – an important decision

There may be several different reasons for a market listing, such as raising capital, enabling the company's own shares to be used as payment for acquisitions, improved recruitment opportunities and exit opportunities for existing shareholders. A listing also means a quality stamp, as the listing require high demands on the company's governance and internal controls, financial reporting and disclosure of information to the market, with increased transparency as a result. A listing can also contribute to increased awareness of the company and its products or services. Regardless of the reason why a company chooses to list its shares, a listing process is both time- and resource-consuming. It is therefore important that the company starts preparing its listing well in advance.

Preparations for listing

Being ”listing compliant” means being in control and being able to provide the market with relevant, accurate and up-to-date information as and when required. No matter the reason why a company chooses to list or up-lists its shares, the listing process can be long and resource-intensive, and it is important to start preparing well in advance. 

The lPO (Initial Public Offering) listing requirements vary depending on the Exchange but often require extensive preparatory work by the company, with several resource demanding projects running in parallel. Activities may include:

  • IPO readiness
  • Conversion to and/or compliance with financial reporting according to IFRS
  • Internal control framework
  • Policy framework
  • Compliance with listing requirements and the Swedish code for corporate governance
  • Sustainability reporting
  • Legal and tax due diligence
  • Preparation of prospectus 

Deloitte offers a range of services to simplify the process.

Selection of our key IPO Advisory services

Explore our key IPO Advisory services. We provide customized solutions that fit your business.

We have extensive experience and expertise in supporting companies with listing preparations and offer a process that can help companies avoid pitfalls early on, resulting in a smooth listing process.

An IPO readiness is not mandatory but is often carried out on behalf of sellers and investment banks in Sweden and the purpose is to (i) prepare the company for an upcoming listing audit and/or the stock exchange's/marketplace's decision on admission to trading and (ii) identify significant measures that need to be taken prior to a possible listing audit and listing. It is necessary to gain an early understanding of the important challenges and measures required for a listing in order to avoid surprises, especially those late in the work, and unnecessary disruptions to the regular business. An IPO Readiness is an integral part of the entire listing process.

Our dedicated IPO team at Deloitte has the relevant skills and experience to effectively guide your company through the listing process, having successfully delivered IPO Readiness projects for over 20 years and been involved in more than 100 listing reviews. Our tailored, client-centric, high-quality approach is based on a deep and thorough understanding of your business and the applicable rules and is designed to meet the requirements and expectations of both you and the Exchange.

When a company wishes to be listed on Nasdaq Stockholm, an independent review is always carried out to assess whether it is appropriate to list the company's shares for trading on Nasdaq Stockholm. The company appoints a listing auditor, and the listing auditor reports directly to the company. The company then submits the listing auditor’s report to Nasdaq Stockholm's listing committee, which is the body that decides whether it’s appropriate to list the company's shares for trading on Nasdaq Stockholm.

The listing review may not be performed by the company's current audit firm, nor by an audit firm that has been involved in helping the company address action points (closing gaps) based on the IPO Readiness report. Nor may the assignment be performed by an audit firm that has been involved in assisting the company in designing and/or implementing policies or internal controls and the testing thereof.

The listing audit assignment includes assessing whether the company has the prerequisites to meet the listing requirements, particularly regarding governance, planning, control and follow-up, external disclosure of information, and financial position and development. 

Our dedicated IPO team at Deloitte has the relevant skills and experience to effectively guide your company through the listing process, having successfully delivered IPO Readiness projects for over 20 years and been involved in more than 100 listing reviews. Our tailored, client-centric, high-quality approach is based on a deep and thorough understanding of your business and the applicable rules and is designed to meet the requirements and expectations of both you and the Exchange. 

We offer advice in relation to the preparation of prospectuses, including pro forma accounting, forecasts and new or revised financial statements to be included in prospectuses, as well as general advice regarding the overall content in a prospectus. Support in the dialogue with the Financial Supervisory Authority and other stakeholders regarding the content of the prospectus.