The guide has been hailed as a benchmark for books on international IPOs, for novice practitioners and experts alike.
It has also been praised as the only publication covering the subject on a truly global basis, from the Americas to Europe, the Middle East and the Asia-Pacific region, as well as across the entire spectrum of equity securities.
"A comprehensive yet easily approachable guide that unmasks the inner workings of an IPO by an experienced investment banker. The book will be of great value to companies planning for an IPO, as well as to finance professionals and to candidates who would like to get into the finance industry."
-Paul W. Lai
Former Head of Hong Kong and Greater China Investment Banking
CLSA Equity Capital Markets Limited
"For any professional involved directly or indirectly in equity capital markets, 'IPO: A Global Guide' is an excellent and detailed overview of the major IPO markets and issues around the world. Philippe has managed to summarize in an easy to read format some very technical information, making it a must-own publication for industry professionals at all levels. For anyone entering the IPO business, this will also guide the reader to quickly compare, contrast and create check lists for a variety of markets. I highly recommend this book for investment bankers, capital markets professionals, legal and compliance and other industry professionals to source information on the exciting global IPO industry."
Former Managing Director
Global Head of Equity Capital Markets & Vice Chairman of the Investment Banking Division
Bank of China International
"In recent years, China has emerged as one the largest IPO markets around the globe. However, most publications on the subject only look at listing rules or valuations issues; few address the practicalities associated with floating a company and, if so, most attention is devoted to Western markets rather than to Asia. Given his wealth of experience in the Asian IPO markets, Philippe is in a unique position to provide insight into the step-wise process of a successful listing in the region. This should be interesting reading for all Chinese companies looking to raise capital in the international equity capital markets."
-Herald van der Linde
Managing Director & Deputy Head of Equity Research
The Hongkong and Shanghai Banking Corporation Limited
"Philippe Espinasse’s book is a true encyclopaedia and also a remarkable reference publication on IPOs. It includes everything one needs to know about the strategy and conduct of an international IPO to achieve a successful offering in today’s market. His approach is very pragmatic rather than theoretical or academic - he goes straight to the point on both major strategic decisions (where to list, which banks to appoint, how to time an offering, valuation...) and more execution-related issues (such as IPO fees, documentation, roadshows or aftermarket management). Market professionals will appreciate reading this book, as will entrepreneurs, managers, bankers and investors – all will find answers to any questions they may have. It will also appeal to students in finance, for whom it should become a reference guide on the subject."
Former Chief Executive Officer of Deutsche Bank AG in France
Chairman, Acxior Corporate Finance
"A sophisticated and detailed study that takes a major step forward in IPO research and analysis. It covers not just a topic but a whole territory. The new benchmark for all subsequent inquiries on the subject."
-Takashi Kasagami and Charles Vacher
Pacific Financial Partners, LLC
"As an experienced practitioner of the 'dark arts' of equity capital markets, Philippe brings a wealth of knowledge to the study of this process that even market participants will find interesting, and neophytes will find fascinating and enriching."
-Piers Higson Smith
Former Director, Head of Capital Markets
"Philippe has done a great job of capturing the essentials of IPOs in a logical and easy-to-read manner. This is a must-read for finance professionals and entrepreneurs who would like to gain an understanding of IPOs via a step-by-step approach, and through a practitioner's insight."
Managing Director, Mergers & Acquisitions
"A most enjoyable and well-informed insider’s guide that looks beyond the theory and examines in detail all aspects of conducting an international IPO. A very valuable read for issuers and other participants in the global equity markets."
-Datuk Ganen Sarvananthan
Former Executive Director, Head of Investments
Khazanah Nasional Bhd
"About time. A well-written book for the user; clearly navigating the critical decisions faced by issuers in this otherwise opaque market."
Tiger Group Investments
"Philippe Espinasse lays out a comprehensive, detailed, step-by-step approach for everyone from college graduates to CEOs to become familiar with IPOs."
Chief Investment Officer
Emirates Investment & Development P.S.C.
"The only comprehensive volume about IPOs, it is actually three books into one: a practical guide for the entrepreneur assessing a listing for his company; an insightful research for the investor facing new global opportunities; and a must read for every professional and student willing to better understand the changing world of IPOs through an insider’s eyes."
Founder and Chief Executive Officer
Adam Smith Capital
"Highly recommend! Espinasse has written a superb, concise and comprehensive guide for practitioners and novices alike. Entrepreneurs who are considering the public route as well as private equity GPs looking to exit through the IPO markets will undoubtedly find this an invaluable resource."
Managing Director - Business Development
"Philippe has put together an impressively comprehensive compendium of all aspects of getting an IPO done. The book has revealed all the trade secrets and will serve as a useful introduction to novice, and guide to all, practitioners."
-George Kwok Lung Hongchoy
Executive Director & Chief Executive Officer
The Link Management Limited
"Philippe's well researched book is a valuable initiative. Coming from someone with direct experience of IPOs, it is also wholly objective and complete. A most positive and productive contribution."
-François de Carbonnel
Former Chairman of the Board, Thomson S.A.
Director of Amgen Inc., Quilvest S.A. and Solocal Group
"Insight from a practitioner who has seen the IPO market mature and become truly global during his almost 20 years in the business. Espinasse writes with authority on one of the most high-profile but little understood sectors of the financial markets. The book is particularly valuable for being written by a professional in Asia, now that IPOs from that part of the world are leading the way in volume and in innovation."
Chief Financial Officer
"Philippe’s global guide on IPOs is a must-have – and must-read – in today’s market of scarce and expensive capital. His global and vast experience of taking companies public from a wide range of sectors, and with varied strategic rationales, makes this a unique and truly 'one stop shop' reference book for entrepreneurs and CFOs."
Head of Corporate Development
"An IPO is a unique experience, on a professional and personal level, for the teams involved, and it is a demanding process that generally transforms the way a company is managed and its future prospects (...), however, success in this venture hinges more on the company itself than on external factors —specifically on agile, rigorous, professional management, the development of risk-tracking and control mechanisms, and the design of credible, consistent strategies that do not disappoint the markets or respond to fashions or temporary factors (...). A listed company undergoes scrutiny every day all over the world; only through a combination of responsibility, effective management, long-term strategy (without ignoring the day-to-day) and transparency can it pass the test. Philippe Espinasse’s book perfectly reflects these thoughts. A complete approach to what an IPO exercise is all about, written by one of the most experienced professionals in the banking industry. "
Chairman and Chief Executive Officer
Gamesa Corporación Tecnológica, S.A.
"A treasure trove of information for family-owned groups; full of practical advice on the rocky road to a public flotation."
"IPOs are a big part of investment banking, one of the most lucrative, complex and least understood businesses on the planet. In "IPO: A Global Guide", author Philippe Espinasse breaks the trade into its component parts, explaining how the business works - and doesn't - in clear, compelling, easy-to-understand language. For anyone who wants to understand finance today, the book is a must-have."
-Shu-Ching Jean Chen
Contributing Writer, Forbes Asia
Former Managing Editor, CFO Asia
"Conducting an IPO is a complex and time-consuming process. It involves many different parties, counsel and advisors and invariably throws up a multitude of legal, regulatory and practice-related issues. Management teams and principal shareholders, particularly those with little or no experience of the process, can find a flotation a daunting and, at times, overwhelming experience. The author, by drawing on his considerable experience in investment banking and his very valuable insight into equity capital markets offerings of all types across the world, has succeeded in providing a comprehensive reference guide to many of the practical and regulatory issues which are confronted or relevant when conducting an IPO. Some readers will find the appendices, which include case studies, checklists, forms and overviews of stock exchange listing requirements particularly useful. This book simplifies with clarity what has always been a complex subject and that is its great merit. All professionals involved in advising on, or executing, IPOs; finance and corporate management teams; investors; and other market participants should welcome this book."
Partner, International Capital Markets
Allen & Overy
"An IPO will likely be the most important material event in the life of an entrepreneur. In 'IPO: A Global Guide', Philippe Espinasse reveals the intricate mechanics of the listing process, making apparent that each step requires important, informed decisions that will have a big financial impact. Refreshingly, Espinasse – a former head of equity capital markets at two major Asia Pacific investment banks – provides a rare global perspective to this process. For anyone who has a stake in selling, buying or executing an IPO, this is essential reading."
South China Morning Post
"Philippe Espinasse's book 'IPO:A Global Guide' offers a unique vantage point: as a senior capital markets practitioner for many years around the globe, Mr Espinasse has been able to produce the most comprehensive book on the topic - a real A to Z of what an IPO is really all about. The book is s avvy, practical, insightful, current and, above all, offers a truly international analysis that no one has ever offered before. This book is a must-read for anyone involved in IPOs."
Media Tree Limited
"A pleasant read and a much-needed publication; full of ideas for corporates, bankers and investors alike - and most particularly in the fast-growing emerging capital markets."
Partner and Country Managing Director
DFDL Mekong Vietnam
"In-depth, informative and insightful - Philippe's book is a 'must-read' to appreciate many of the perspectives of IPOs and other listings on international securities exchanges."
-Paul S. Lau
Former Managing Partner, Asia
Harney Westwood & Reigels