Investor Relations - Communicating Your Equity Story
Experienced Investor Relations Manager / Senior Equity Analyst in top financial centres: London and New York
Chris Ansell has many years’ experience of Equity Markets in London and New York from his time as Investor Relations Manager in BT, the UK telecommunications company, and as senior Equity Analyst at Nomura. He is now Course Director of MSC Global Finance at Coventry University London, a Visiting Fellow at Cranfield University, consults to companies on equity markets, and is a CFA instructor to clients in Asia, Europe and North America.
Chris holds an MA in Natural and Electrical Sciences from Cambridge University, MSC in Telecommunication and Information Systems from Essex University, MBA from Cranfield University, is a CFA Institute Charterholder, and a Senior Fellow of the Higher Education Academy.
Many companies are struggling to articulate a powerful equity story in front of their investors. That could happen if management is focused on the internal narrative rather than focusing on how it will appear to external financial stakeholders. This is where the role of IR becomes valuable by conveying a story, which will most appeal to investors. A great equity story can be one of your most valuable sales tools when you are speaking to investors and analysts.
Thinking about an IPO, the real competitive advantage of your company will glitter as a red thread in your equity story and through all of your communications.
Your equity story makes it easier for investors to invest in you. That’s why it is important to get it right: simple, memorable and thinking investors first.
Learning Outcomes
- The reasons why investors buy equities versus other asset classes
- Communicating your equity story – what do investors want to see, and what do they not want; repositioning your equity narrative to a changed corporate strategy
- Benchmarking your company against its peer group-identifying your company competitive advantage/ investment-value proposition
- Factors in deciding on your dividend policy
- Why is my share price so low, and what can I do – understanding investor equity valuation methodologies
- Capital Raising – what is best for us? Rights Issues, placings and debt issues
- Bond rating agencies-how their view will affect your Equity narrative Communicating bad news – profit warnings and disappointments
Learning Activities: Participants will have the opportunity to practice presenting the Equity story behind a theoretical company, and receive constructive feedback from an experienced equity analyst.
CONTENT
- What we actually “sell”: the content of the “story”
- Attractiveness of equities as an asset class-maybe preparatory work
- Shareholder clientele and the corporate lifecycle
- Managing M&A and the investor perception; communicating your new investment proposition
- How do investors characterize Value companies, Growth companies, and hybrids?
- Industry sector characteristics
- Multiple based, dividend based, asset based and cash flow equity valuation; EVA and CFROI 1
- Valuing complex companies – sum-of-the-parts valuation
- The drivers of your PE ratio
- Managing the gap between the market view of you, and your internal narrative; Assessing investor perceptions and expectations and informing the internal audience key topic
- Advantages and disadvantages of rights issues, equity placings and issuing debt; how will the market react
- How to communicate a profit warning and other bad news
- Structure of a successful presentation-key outlines
- Practice exercise (participants will split into presenters and assessors jury)
- Insights from Romanian market
Key Concepts
- Value v Growth
- Investor expectations at different stages of the Corporate Lifecycle
- IBES Consensus and managing market expectations
- Equity Beta and using the pure-play method for non-listed and pre-IPO companies, systematic + specific risk
- Valuation Methodologies; PVGO (Present Value of Growth Opportunity)
- Rights Issues & TERP (Theoretical Ex-Rights Price)
- Dividend Policy + investor Expectation
- Shareholder meetings
Target Audience: Mid to Senior level Managers, Investor Relations professionals, Chief Financial Officers, Consultants.
Pre-reading will be provided to all participants to ensure that those with less experience of Investor Relations and Equities can fully engage with the session.
Number Of Participants: limited to maximum 12
The webinar will be delivered using Online Platform, allowing the virtual participation, both from home and from work, with no risks associated, using just a browser. After the registration to the course, one day before the online sessions took place, the participants will receive a link to access the virtual classroom.
Duration: 4 hours (net)
A certificate of attendance will be issued by the e-learning platform, after the course.
