베인은 홈페이지 기능 및 성능 개선을 위해 쿠키를 사용합니다. 이와 관련된 더 많은 정보는 개인정보 메뉴에서 확인하실 수 있습니다. 이 웹사이트를 계속 사용하시면 쿠키 사용에 동의하신 것으로 간주됩니다. 

스냅차트

How to Avoid the Curse of IPO Underperformance

Elite outperformers have already prepared for life after IPO.

스냅차트

How to Avoid the Curse of IPO Underperformance
en

Despite the storied stock successes of technology icons such as Amazon and Google, most initial public offerings (IPOs) have burned investors. New Bain & Company analysis shows that over five years, two-thirds of global IPOs underperformed their established, publicly listed peers, with a median 46 percentage points lower total shareholder return (TSR). The elite companies that manage to outperform their public peers in TSR do three things differently. They view the IPO as a beginning and a means to a longer-term value creation, rather than any kind of end in itself. They understand how post-IPO investors have fundamentally different objectives and incentives. And they emphasize strategic support to help build that long-term value, rather than simply seeking transactional help. Executives who have prepared for life beyond the IPO position their companies to earn investors’ trust.

Hubert Shen is a partner with Bain & Company’s Mergers & Acquisitions and Private Equity practices. Henrik Poppe leads the Corporate Finance practice in Europe, the Middle East and Africa. Mike Kuehnel is a partner with Bain’s Financial Services and Corporate Strategy practices. They are based, respectively, in Los Angeles, Oslo and Frankfurt.

Related Brief

Reversing the Winner’s Curse of the IPO

Congratulations, you’ve sold shares to the public. Now what?

태그

베인에 궁금하신 점이 있으신가요?

베인은 글로벌 리더들이 중요한 이슈를 해결하고 기회를 놓치지 않도록 지원합니다. 고객사와 협력하여 지속되는 변화와 성과를 창출합니다.