Publication
Navigating the IPO
Taking your company public is an important milestone, and whilst the landscape for IPOs is complex and dynamic, choosing the right path is essential.
Global | Publication | April 2020
– In particular:
Category A - Employee-related payments (subject to limits)
Category B - Government debts
Category A takes precedence over Category B (and so on) and debts within each category rank equally (and, if assets are insufficient to pay everything, abate equally) among themselves
– Preferential creditors rank ahead of floating charge holders where the assets of the company are insufficient to satisfy all preferential creditors
– Share pari passu, subject to rights attaching to different classes of share in the constitution
– If proceeds are insufficient, they all receive the same percentage of what they would otherwise be entitled to
Publication
Taking your company public is an important milestone, and whilst the landscape for IPOs is complex and dynamic, choosing the right path is essential.
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