Status Man
Subsequent to the lodgement of these forms, under subsection 164(3) of the Act, ASIC will publish a notice in the Commonwealth Gazette that states that the company intends to alter its registration to change the company status from proprietary to public status. That change officially occurs one month after the notice is published in the Gazette. 4
The company must also change its name to Venture Ltd under S.147 of the Act. The company must convene a meeting of shareholders to approve the change and name after which the company must lodge Form 205 with ASIC to change its name. The company will be issued with an amended certificate of registration. 1
The timetable for listing on ASX depends on the complexity and scale of the companys transactions, how quickly the listing can be prepared and the time it takes to receive any funds from investors. If managed properly, the IPO process can be completed in 3-5 months. Obviously, the longer the IPO process takes the more expensive it will be, so it is important for the company to have an adviser with ASX listing experience to manage the IPO process on its behalf to ensure that the process is streamlined as much as possible. 3
There are a number of structuring matters that need to be considered by the directors of V Co, when preparing for an IPO, including reviewing the composition of the companys Board, determining the ideal legal structure for the public float, and identifying