DFIN’s Q1 2024 earnings report, released this week, showcases the success of the company’s software transformation, while suggesting that the turn in the IPO market might not be too far off.

Practical insights for APAC companies contemplating a listing in the U.S. capital market as Foreign Private Issuers (FPIs).

A lot has happened since the IPO surge of 2021. One of the most significant developments is the rise of Generative AI, a technology that can generate new content — everything from computer code to complex images to complete essays.

Companies planning to go public today have taken note. They want to know if this transformative new technology can help them get ready for a public offering. That was the topic of an excellent panel discussion at the recent 11^th Annual IPO Summit, hosted at the New York Stock Exchange.

DFIN’s software transformation remained on track in 2023, and our clients reaped the benefits.

In our just-released 4Q and full-year 2023 earnings report, DFIN achieved record software solutions net sales of approximately $293 million for the year, an increase of approximately 7% from 2022 on an organic basis. Software solutions net sales were approximately 37% of our full year net sales, up from approximately 34% in 2022.

This is powerful evidence that we are delivering the kind of solutions that clients require in a fast-paced, always-evolving business environment.

When thinking about an exit strategy from their business, most owners have a clear idea of their desired exit. However, there are cases when owners take what is known as a dual-track exit, pursuing not one but two types of exit strategies. Usually, they move forward with a merger or acquisition (M&A) and initial public offering (IPO) until deciding which option meets their needs. 

Discover how a dual-track transition works, when it can be advantageous, and how owners can stay organized throughout the dual process.

What Is a Dual-Track IPO Listing?

For those who try to predict the future, the last two years have been a challenge. This is especially true when attempting to forecast IPO activity and emerging federal and state regulations, including pending U.S. Securities and Exchange Commission (SEC) rules.

"The largest tech offering in years, ARM Holdings, raised ~$4.9 billion, making Q3 the busiest quarter by proceeds this year. Unicorns moved through the IPO pipeline, with Instacart and Klaviyo making their public debuts. All eyes are on inflation, market volatility, and the government shutdown and the impact it may have on exchange bells ringing in Q4." Craig Clay, President, DFIN

When I talk to executives who are considering an IPO, I can often identify the ones who haven’t been through a public offering before.

The first timers tend to underestimate the sheer number of critical and time-consuming tasks that need to be completed to ensure a successful launch.

At the 2023 IPO Summit, Meaghan Miller, Vice President, Global Capital Markets at Donnelley Financial Solutions (DFIN), appeared with host Judy Shaw on the NYSE Floor Talk show to discuss how DFIN can help companies preparing to go public. Emphasizing good governance and the importance of financial reporting, Meaghan explained how products like Venue and ActiveDisclosure are essential to a successful public offering.

Could Europe’s loss be America’s gain? Big name companies across the pond have raised eyebrows by choosing New York-based stock exchanges rather than European counterparts.