Capital market solutions

As a member of Equilor Group, Equilor Corporate Advisory has been a leading participant in the Hungarian capital markets and on the Budapest Stock Exchange (BSE) since 1990. Drawing on more than three decades of capital markets experience, we support clients throughout the entire lifecycle of capital markets transactions.

Our experts have extensive experience across the full spectrum of capital markets advisory services, from assessing IPO readiness and developing comprehensive capital markets strategies to executing bond and equity offerings, stock exchange listings, public takeover offers and share buyback programmes.

We maintain active relationships with the leading participants in the Hungarian and regional investor community, giving us first-hand insight into investor expectations, market conditions and the evolving capital markets environment. This enables us to advise clients on the optimal capital markets strategy, transaction structure and investor positioning, supported by real-time market intelligence.

Whether advising an established listed company or a business considering its first capital markets transaction, Equilor Corporate Advisory combines deep market expertise, strategic advice and hands-on execution experience to help clients achieve successful outcomes.

When Should You Consider a Capital Markets Transaction?

Capital markets transactions can provide access to substantial funding, enhance a company's visibility and credibility, diversify its financing sources, and increase strategic flexibility. Choosing the right timing, transaction structure and financing solution is critical to achieving a successful outcome.

Our capital markets advisory services are particularly relevant in the following situations:

• High-growth companies seeking to raise capital to finance expansion, acquisitions or international growth
• Established companies looking to diversify their funding sources and optimise their capital structure alongside traditional bank financing
• Family-owned businesses planning a partial shareholder exit, a generational transition or the expansion of their ownership base
• Private equity-backed companies preparing for an exit event
• Listed companies planning a follow-on equity offering, bond issuance, share buyback programme or capital structure optimisation
• Investment funds and fund managers seeking to raise capital from institutional or private investors
• Investors and investor groups preparing to launch a voluntary or mandatory public takeover offer (NYVA or KNYVA) for the shares of a listed company

Why Engage a Professional Investment Services Provider?

Successful capital markets transactions require thorough preparation, effective coordination and continuous communication with investors, regulatory authorities and the other advisors involved in the transaction.

An experienced investment services provider does more than coordinate the transaction process. It provides strategic advice on the optimal transaction structure, helps select the most appropriate capital markets solution, and supports investor positioning and communication throughout the process. It also works closely with regulatory authorities, the stock exchange, legal and financial advisors, and the investor community, allowing management to remain focused on the company's day-to-day operations and business performance.

Professional advisory enhances transaction readiness, helps identify and mitigate potential risks at an early stage, strengthens the credibility of investor communications, and increases the likelihood of a successful transaction completed on the most favourable terms and in line with the company's long-term strategic objectives.

Equilor Corporate Advisory's capital markets advisory services

Equity Capital Markets (ECM)

Initial Public Offering (IPO) and Secondary Public Offering (SPO)

Equilor Corporate Advisory provides end-to-end advisory services for equity capital markets transactions, supporting clients from the initial planning stages through transaction execution and stock exchange listing. We advise on the optimal transaction structure, investor positioning, preparation of transaction documentation, and coordination of the entire process through to a successful listing.

The Equity Offering Process

Developing the Transaction Strategy and Structure
Developing the optimal transaction strategy and offering structure based on the company's strategic objectives, financing needs and market conditions, and determining the size, structure and target investor base of the offering.

Equity Story and Investor Positioning
Developing the company's equity story, defining its investor value proposition and positioning the transaction for the target investor audience.

Preparing the Transaction Documentation
Coordinating the preparation of the prospectus and other transaction documentation in cooperation with the company and its legal advisors.

Investor Marketing and Offering Process
Organising the investor roadshow, supporting investor communications, and coordinating the offering process.

Transaction Execution and Stock Exchange Listing
Coordinating the execution of the offering, managing the regulatory and technical processes, and supporting the company's stock exchange listing.

Post-Transaction Support
Where required, we support clients during their transition to life as a listed company, including investor communications, ongoing capital markets obligations and the development of a long-term capital markets presence.

Share Buyback Programmes

Share buyback programmes can be an effective tool for enhancing shareholder value, supporting share liquidity, optimising the capital structure and implementing employee share incentive programmes. Designing the optimal programme requires a comprehensive assessment of the company's financial position, share liquidity, regulatory environment and strategic objectives.

The Main Steps of a Share Buyback Programme

Strategic and Financial Assessment
Assessing the objectives of the buyback programme, the company's financial position and capital structure, as well as the liquidity and market position of its shares.

Programme Structure
Designing the optimal buyback structure, timetable and execution mechanism, taking into account the company's objectives, applicable legal requirements and capital markets regulations.

Programme Execution
Coordinating the implementation of the share buyback programme, supporting the preparation of the required documentation and providing professional support throughout execution.

Voluntary and Mandatory Public Takeover Offers

We support clients throughout the preparation and execution of voluntary public takeover offers (NYVA) and mandatory public takeover offers (KNYVA), coordinating all related capital markets activities and stakeholder communications.

The Main Steps of a Public Takeover Offer

Transaction Preparation
Analysing the target company, determining the offer price and preparing for the execution of the takeover offer.

Transaction Timetable
Advising on the optimal timing of the transaction, taking into account market conditions and expected developments.

Documentation and Regulatory Compliance
Preparing the offer documentation and implementation plan in cooperation with the offeror and its legal advisors, while ensuring ongoing regulatory compliance.

Offer Execution
Coordinating the execution of the takeover offer, managing stakeholder communications and regulatory reporting, and supporting capital markets communications throughout the process.

Debt Capital Markets (DCM)

Bond Issuances and Bond Programmes

Drawing on our extensive capital markets experience and broad investor network, we support clients in private and public bond issuances, as well as in establishing long-term bond programmes.

The Main Steps of a Bond Issuance

Issuer Assessment
Assessing the issuer's capital structure, financing position and the objectives of the bond issuance.

Developing the Transaction Strategy and Structure
Designing the optimal bond structure and target investor base based on the issuer's financing objectives and market conditions.

Preparing the Transaction Documentation
Coordinating the preparation of the information memorandum or prospectus in cooperation with the company and its legal advisors.

Investor Marketing and Offering Process
Developing the investor positioning, organising the investor roadshow and supporting the bond offering process.

Transaction Execution
Coordinating the execution of the bond offering, settlement and, where applicable, the admission of the bonds to trading on the stock exchange.

Capital Markets Advisory

IPO Readiness Advisory

A stock exchange listing is typically preceded by an extensive preparation process. Through our IPO Readiness Advisory service, we assess a company's readiness to operate as a listed company and identify the development areas required for a successful IPO and sustainable long-term public company operations. Our review covers corporate governance, organisational structure, financial reporting and controlling systems, internal processes, and the alignment of the company's strategy and growth plans with investor expectations.

The IPO Readiness Process

IPO Readiness Assessment
A comprehensive assessment of the company's readiness for an IPO based on management interviews, questionnaires and a review of current operating practices.

Gap Analysis
Comparing the requirements for a successful listing with the company's existing capabilities, identifying development priorities and highlighting key risks.

IPO Readiness Roadmap
Developing a comprehensive roadmap that defines the required initiatives, implementation priorities, major milestones and recommended timetable, taking into account the planned transaction timeline and market windows.

Implementation Support
Supporting the execution of the roadmap through project coordination, alignment of workstreams and monitoring the implementation of each development initiative.

Pre-IPO Validation
Conducting a final readiness review before the IPO to verify the implementation of the identified initiatives, assess any remaining gaps and confirm the company's readiness for listing.

Capital Markets Strategy

Our advisors help clients develop a capital markets strategy aligned with their growth ambitions, financing needs and ownership objectives, taking into account the company's stage of development, capital structure and the available capital markets alternatives.

The Main Steps of Developing a Capital Markets Strategy

Assessing the Company's Financing Position

• Reviewing the company's business strategy, growth objectives and ownership plans.
• Assessing the existing capital structure, financing position and future funding requirements.

Evaluating Capital Markets Alternatives

• Assessing the company's current capital markets positioning and defining its desired market positioning.
• Evaluating and comparing the relevant capital markets alternatives, including IPOs, follow-on offerings, bond issuances and other financing options.

Developing the Capital Markets Strategy

• Defining the optimal transaction strategy, funding structure and implementation timetable.
• Preparing the implementation roadmap, including the required preparatory actions, key milestones and execution plan.

Fundraising for Investment Funds

Drawing on our extensive investor network, we support investment funds, asset managers and alternative investment vehicles in raising capital from institutional and qualified private investors.

The Fundraising Process

Developing the Fundraising Strategy
Assessing the fund's positioning and developing the fundraising strategy, transaction structure and target investor base.

Investor Positioning and Marketing Materials
Preparing investor presentations and other fundraising materials.

Investor Outreach and Roadshow
Organising and supporting investor meetings and roadshows.

Fundraising Execution and Distribution
Supporting the successful completion of the fundraising process and the ongoing distribution of the investment product.