Michael Macfarlane Associates prepares Asia-listed companies for secondary listings in London and New York, and companies for their IPO, with IPO PR that builds investor familiarity long before the books open.
IPO PR and secondary listing advisers for companies listing in London, New York and Hong Kong, so that the listing delivers its valuation, demand and aftermarket support.
A Listing Is Won Before It Opens
For an Asia-listed company planning a London or US listing, the valuation is shaped long before the roadshow. Investors in a new market price what they already know.
Michael Macfarlane Associates builds that familiarity early: coverage, profile and visibility in the answers artificial intelligence gives, in the market the company is entering. Demand, conviction and aftermarket support then outlast the first day of trading.
The work is led by Mark Walter, Partner and Head of Capital Outcomes, who advised on the Lenta and Kcell IPOs in London and on AerCap’s investor marketing in the United States.
AI Now Meets Your Investors Before You Do
Investors in New York, London and beyond increasingly meet an Asia-listed company first through AI answers and AI search, often in their own language and long before a roadshow. Their screening tools and analyst models draw on the same information environment.
Ahead of a secondary listing or IPO, Capital Outcomes baselines how the world’s major AI systems describe the company with Reputation Intelligence, the firm’s proprietary platform, then shapes the information environment those investors and their tools decide from. Everything a financial PR firm does, plus what the age of AI demands.
Read more about Reputation Intelligence.
Four Steps To A Successful Listing
Each step is defined by the outcome the company needs, not by the listing timetable alone.
Primary, Secondary And Dual Listings
A primary listing is a company’s main listing, where it is regulated first. A secondary listing adds a second exchange, usually on lighter terms; the UK, for example, has a dedicated secondary listing category for international companies. A dual listing gives a company two primary listings. Each widens the investor base, and each needs those new investors to know the company.
Why Hong Kong Companies List In London
Access to a deep pool of international institutions, an established market for global companies and a time zone that bridges Asia and the Americas.
Why Companies Look To New York
The largest pool of growth and technology capital, and the analyst coverage that comes with it.
What Investors Need First
A clear investment case, familiarity with management and evidence they can verify, in their own market and language.
The Equity Story Behind The IPO
Pre-IPO profile building gives prospective investors reference points before the process opens.
The Equity Story
A simple, credible investment case that new investors can repeat.
Pre-IPO Profile
Coverage, owned content and leadership visibility built in the months before launch.
Artificial Intelligence Visibility
What investors read when they ask artificial intelligence about the company, verified and consistent.
Launch And Bookbuild
Media, announcement and leak management alongside the banks and lawyers.
Momentum After The First Day
A listing is the start of the company’s life with public investors, not the end of the process.
Aftermarket Support
Results, coverage and investor engagement that sustain the price after launch.
Index Outcomes
Positioning for index inclusion and the liquidity it brings.
Share Register Quality
Long-term holders aligned to the strategy, rather than a trading story.
Listings And IPOs Delivered
IPOs and listing preparation where members of the team built the investor story and demand.
| Client | Mandate | Outcome |
|---|---|---|
| Lenta | London IPO, marketed to global institutions | US$952m IPO |
| Kcell | IPO in London and Kazakhstan | US$525m IPO |
| Air Astana | IPO across the LSE, AIX and KASE | US$350m IPO |
| Aurrigo | London IPO investor marketing | London listing |
| airBaltic | Privatisation and IPO preparation | A platform for privatisation |
| BOSQAR | Groundwork for an international IPO | Equity story reference points established |
| Jefferies | External press office for a global investment bank in Hong Kong and Asia | Investment Forum with 50+ international media |
Capital outcomes delivered by members of the Michael Macfarlane Associates team. Some identifying information has been amended to protect confidentiality.
Why Reputation Is The New Capital
Michael Macfarlane, Principal Partner, on why reputation has become a form of capital in a world of omnipresent artificial intelligence.
Senior Judgement, Platform Native Talent
Senior reputation advisers who have worked at the highest levels of capital, communications, journalism and diplomacy, led by Mark Walter, Partner and Head of Capital Outcomes.
Mark Walter
Anna Kredisova
Stephanie Chen
Edmund ChanQuestions
What is the difference between a primary and a secondary listing?
A primary listing is a company’s main listing, where it is regulated first. A secondary listing adds a second exchange, usually with lighter ongoing obligations, so that the company can reach new investors without moving its main market.
Why do Hong Kong companies seek a London or US listing?
To reach a wider pool of international institutions, gain analyst coverage, raise their global profile and diversify their shareholder base across time zones and markets.
How early should preparation for a secondary listing start?
Ideally a year or more before the listing. Investor familiarity, coverage and visibility in artificial intelligence answers take time to build, and they shape demand before the books open.
What does IPO PR involve?
The equity story, pre-IPO profile building, media relations around the intention to float and the launch, leak management, and aftermarket communications. Capital Outcomes also covers investor familiarity and artificial intelligence visibility.
How does the firm work with the banks and lawyers on a listing?
As one adviser to the board that keeps banks, lawyers, investor relations and media on one story, and brings in specialists where they are needed.
How does artificial intelligence affect an IPO?
Prospective investors and analysts now research a company through artificial intelligence before they meet it. A deep, consistent library of verifiable content shapes what those answers say, and so the demand for the shares.
Explore Capital Outcomes
Capital Outcomes
Reputation advisers for listings, transactions and fundraising, across the world’s major power centres.
Explore02M&A And Transactions
For sales, mergers, privatisations, private raises and proxy votes: conviction built before the process opens, so the deal completes on the right terms.
Explore03Investor Relations And Valuation
For listed companies trading below their worth: equity stories, capital markets days, share register work and disclosure that close valuation gaps.
Explore04Private Capital, Funds And Sovereign Wealth
For VC and private equity firms raising funds and building portfolio value, companies seeking family office or sovereign capital, and sovereign funds themselves.
ExploreSpeak To Us In Confidence
Capital Outcomes clients retain Michael Macfarlane Associates privately, ahead of a listing or transaction, through the process and its aftermath, or as a standing adviser to the board. Every relationship begins with a confidential conversation with Mark Walter or a partner.