What is a roadshow?

Hong Kong stock IPO roadshow

Roadshowis a publicity campaign arranged by stock underwriters for issuers prior to the issuance of new shares. Through roadshows, underwriters and issuers can objectively determine the volume, price,and timing of issuance. Usually, the sales department of an investment bank is responsible for contacting institutional investors in major financial centers around the world, arranging the itinerary, and then hand off tocompaniesspecializing in arranging roadshows.

Roadshow is a widely used way ofpromoting IPOs. It is a sales pitch made by the underwriting firm and a company's management team to potential investors before going public. Through roadshows, potential investors are introduced to the company, its history, and its key personnel. During this process, underwriters and the issuing company will also be able to get a sense of investors' investment intentions.

After receiving approval for issuance, the next steps are as follow:

1) Prepareroadshow information:Includingroadshow PPT, companypromotional film,  investment value reportwritten by sponsor researcher,and other documents.

2) Public roadshow:Visitinstitutional investors, conduct one-on-one meetings and promotions, hold roadshow promotionalmeetings, and openly invite institutional investors to participate.

3) Inquiry, pricing:the issue price is determined by the quotation of the participating placing agencies comprehensively.

5) Onlineroadshow

6) Off-line allotment

7) Online issuance

8) Going public