IPO Intelligence • The IPO Process

What Is an IPO Roadshow?

The 2-week marketing tour that determines IPO price.

Cluster: The IPO Process • Type: Evergreen Guide • Pillar: IPO Intelligence

What Happens

CEO/CFO + bankers do 6-8 meetings per day across NY, Boston, SF. 30 min pitch + 15 min Q&A. Deck is 40 slides, not the S-1.

Who Attends

Fidelity, T. Rowe, BlackRock, Capital Group, Wellington. 70-80% of demand comes from 20-30 funds.

Bookbuilding

Investors say: "500k at $20, 300k at $22". Sales desk logs price sensitivity. Quality book = many long-only, price-insensitive orders.

Signals

Range raised, roadshow extended = hot. Range cut, early end = weak.

Part of The IPO Process. Next: What Is IPO Pricing?

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