13 Jun '12, 10am

[Echelon Coverage] Patrick Grove of Catcha Group shares the secret ingredients of a successful IPO

[Echelon Coverage] Patrick Grove of Catcha Group shares the secret ingredients of a successful IPO

According to Patrick, the success formula for IPO is: company + banker + buyers, with “Absolute Preseverance” as the secret sauce. Patrick illustrated this by giving examples of how he tried to list his company publicly for the first time. For his first attempt, his portfolio company was ready and banks were also available to help facilitate the process. However, the final component, which is buyers, were lacking because the NASDAQ market crashed back in April 2000, and buyers were becoming really conservative. The public listing fell apart. To Patrick, this didnt stop him from trying again, taking away the lesson of “timing is everything” with him. Eventually, when the right time came again, Patrick managed to IPO the company on September 11, 2007, valued at S$40 million, and successfully raised S$10 million.

Full article: http://e27.sg/2012/06/13/echelon-coverage-patrick-grove-o...

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