STJ has the expertise and proven processes to ensure a successful result. During 2019, we advised on 3 successful IPOs during a period where the failure rate averaged 33% - and exceeded 50% during the second half – maintaining our unchallenged 100% completion rate. STJ also ensures more accurate pricing, with a far narrower first day share price trading range (the range across all STJ-advised IPOs is c. 1/3 that of our competitors).
An IPO is a “mission critical” process, and having a world-class ECM and research team on your side of the table will ensure that you get the best deal done.
We rely on an intensive data capture and reporting process, ensuring that the stakeholders have the most complete picture of investor reaction and positioning as the IPO progresses.
STJ was noted as the only advisor to improve pricing and proceeds in the first academic study(1) to compare the performance of independent IPO advisors (completed at Cass Business School). STJ achieved both the highest success rate and the most consistent pricing / best results, generating average improvement in proceeds to issuers of $79.4m per offering.
(1) "Do Independent Advisors Mitigate IPO Underpricing and Withdrawals in Europe?" Emmanuel Pezier (2019). Based on all IPOs on European exchanges January 2010 - July 2017 ($30m+). Link to study. Data set replicates that used for the October 2017 FCA study "Quid pro quo? What factors influence IPO allocations to investors?"
“A Picture Perfect Transaction.”
Company Executive on the €925m Ziggo IPO, International Financing Review EMEA Equity Deal of the Year 2012