Good governance can be a big sell for IPOs

AT A recent preparation meeting for an initial public offering (IPO), a question which I've heard repeatedly at such meetings was posed to the company's managing director: "So, what's your narrative that makes this IPO compelling?"

His answer: "Don't worry, we have an interesting company story, our financials are strong, and, therefore, our IPO will be highly sought after."

The managing director missed the point.