The process of equity listing on the Exchange consists of several steps. Its time requirement and complexity also depend on the “type” of listing the company intends to realise:

1.“Simple” listing on the Exchange, without a capital increase (issue of new shares) or public offering of existing shares (exit). In this case, when the company appears on the market, it creates a future possibility for flexible funding. At the same time, it “learns" how to comply with requirements associated with maintaining its shares on the Exchange, while allowing the company to continuously test company performance in the public markets. Performing well during this presence on the Exchange improves a company’s conditions for raising future funds.

A firm may benefit from this option when it does not need additional capital at the time of the listing, or when the firm’s owners intend to sell their stakes or a portion thereof only in the medium or long term.

On the other hand, going public on an Exchange undoubtedly creates a challenge that the company has to cope with even in the period preceding raising the actual funds or prior to exit.

2.“Traditional public offering”: a listing where the admission to the Exchange is coupled with the offer of a share package to the public, i.e. either the issue of new shares or sale by owners or a combination of the two.