ARTICLE · 15 SEPTEMBER 2016

IPO Due Diligence report for investors

Kemp Strang Lawyers

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The report sets out the key findings from reviews that ASIC conducted on the due diligence practices for twelve IPOs.

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Sarah Johnson (Formerly With Kemp Strang Lawyers)

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IPO Due Diligence for Small and Mid-Sized Offers – What is required?

The answer, according to ASIC, is more than you might think...

ASIC recently issued a report on Due Diligence Practices in Initial Public Offerings (Report) which sets out the key findings from reviews ASIC conducted on the due diligence practices for twelve IPOs including ten small and mid-sized issuers, two large issuers and a sample of offers from emerging market issuers.

Why carry out due diligence?

The Corporations Act 2001 (Cth) (Act) requires a prospectus to contain all information that investors and their professional investors would reasonably require to make an informed assessment of:

the rights and liabilities attaching to the securities offered; and·

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