Not all IPO processes end up with an IPO. The path is filled with twists and turns, in some cases cancellations, postponements, or even a strategic sale before reaching the stock market. In this episode, we sit down with Maria Hedengren, who led the IPO processes of both iZettle (bought out by Paypal in the final stages) and Readly (listed in Stockholm in 2020).

Through Maria’s lens, we explore the critical moments, strategic decisions, and leadership challenges encountered when steering a company towards an IPO. From the decision of listing location to the intricacies of board composition and investor relations, Maria sheds light on the essentials of IPO readiness, the importance of strategic exits, and the impact of these decisions on a company’s trajectory.

🎧 Listen here:  Spotify  |  Apple Podcasts  🎧

🗨️ Some of our favourite quotes from our discussion:
“IPO readiness is not just about ticking boxes; it’s a transformation of the company in preparation for the public eye.”
“It’s about being able to look a little bit around the corner, consequences of different paths and decisions. (…) And it’s hard to do that if you’ve never been around that corner before.”

“Each IPO has its defining moments, those you remember very vividly. You recall what you were wearing, the weather, where you were sitting, what the room around you looked like, what you were thinking exactly, the critical moments where you can see the air vibrating and you are not sure if things will go south or north from there.”

“I think few companies are IPO ready. (…) It was a very sort of entrepreneurial driven company, very agile and well-managed. But when you are going to IPO, there’s just so much more, from the composition of the board – that you need a number of independent board members, for example, you can’t just have owner representatives.”

Disclaimer: this discussion is not financial advice, nor an investment recommendation, nor a solicitation to buy or sell any financial instruments, or an offer for financial services or any other transaction. The information contained in the recording have no contractual value and are destined for an informational purpose only. Amundsen Investment Management and the participants on this podcast may have holdings in the companies being discussed.