NDBIB

NDBIB designed the ESOP ensuring in particular non - prejudicial treatment of employees at each level and the aligning of interests of shareholders and employee in order to create of long-term loyalty/commitment to the Company. The ESOP was also aimed at improving performance orientation and motivation of the employees. NDBIB also obtained necessary regulatory approvals and co-ordinated documentation pertaining to the implementation of the ESOP.
Carried out business and legal due diligence: Extensive legal and business due diligence was performed as a backdrop to valuations, research, restructuring, implementation of ESOP and in particular to facilitate listing.
Recommended and implemented a suitable capital structure: Restructuring was primarily carried out in order to ensure affordable pricing of the share through a bonus and share split. Additionally, the capital structure was optimised in terms of gearing to be in line with industry norms given the limits stipulated by debt providers and regulators. The capital structure was also designed to support future growth of the company.

First comprehensive mobile telecommunications to be publicized in detail. The valuation was fashioned on in depth analysis of micro level data. The valuation model was commended by foreign investors in particular, during the presentations.
Recommended fair price for the equity issue: The Consensus range was obtained through Discounted Cash Flow method in addition to multiple based valuations including EV to EBITDA and PER. The indicative range for the bookbuild was hence based on a strong foundation.
Advised on corporate governance issues: Recommendation of corporate governance practices by elaborating existing best practices and influencing the Company to adopt international best practices.
Preparation of the Prospectus: NDBIB formulated the prospectus as a marketing document for the IPO within the stipulated legal framework governing offer documents.
Initial Listing Application: NDBIB evaluated the various changes necessary to legal documents in order to facilitate the listing, providing guidance to the company in this regard and formulated the listing application and obtained approval for listing in marginal time of one week.

Global Marketing: Carried out extensive marketing in Singapore, Hong Kong, Dubai, Malaysia, Scotland, England and U.S.A ensuring the participation of prominent funds/ investment banks through one-on-one meetings. Efforts culminated in the receiving of the highest foreign subscriptions totaling over Rs.40 Billion (USD 40 Million).
Local Marketing: Local marketing efforts concentrated on fund managers and high net-worth individuals and institutions which exert a significant influence on the market. Regional roadshows were carried out in Matara, Kandy and Jaffna in addition to broker and investor presentations carried out in Colombo with the objective of maximizing the number of participants.
NDBIB designed and provided the content of promotional documents to be used in roadshows. In addition the team was responsible for the whetting of local advertising campaigns on both visual and print media.

Training of intermediaries: Presentations were held in order to train collection point officials in the processes of application collection. In particular, NDBIB trained bankers and registrars to the offering as well as educating stockbrokers with application procedures ensuring the smooth running of the offer.
IPO logistics: NDBIB facilitated various functions including the printing and provision of the prospectus, analytical functions and assisting the registrars with sorting of applications and amending of inaccuracies of applications. NDBIB successfully managed the bankers and registrars, overseeing and streamlining their functions and was able to trade on the stock exchange in a record time of 14 market days.
NDBIB also maintained the 'information desk' to answer investor queries.

NDBIB continued its marketing efforts to various investors, especially institutions which failed to obtain the required allocation, thereby encouraging them to participate in the secondary market transactions even at a premium to IPO price. ( Most of the foreign/local fund managers participated heavily in secondary market transactions thereby increasing the price to Rs.22/- and beyond)
NDBIB advised the company with respect to corporate disclosure and continued listing requirements. Further, NDBIB has advised the Company regarding 'investor forums' with a view to disseminate information to stockbrokers, fund managers and investing public.
NDBIB is at present advising the company with regard to options of introducing Dialog Telekom to regional indices.