Core Objectives - The primary goal of the Investor Outreach and Communication Plan during the IPO process at HKEX is to systematically communicate the company's investment value, business model, and growth prospects to potential investors while gathering market feedback to optimize pricing and ensure successful IPO issuance [2] Key Stages and Activities - The investor communication for HKEX IPOs typically spans three key stages: Pre-Marketing, Roadshow, and Bookbuilding, each with distinct focuses [3][4][5] - Pre-Marketing (1-2 months before IPO launch) aims to gauge market interest and establish a preliminary valuation range through interactions with investors [6] - Roadshow (1-2 weeks before pricing) involves management teams engaging with institutional investors to address core questions about valuation, growth drivers, and risks [6] - Bookbuilding and Pricing (post-Roadshow to pricing day) focus on confirming final subscription intentions and determining the final issue price based on demand and market sentiment [8] Participants and Roles - The underwriting team leads the communication strategy, coordinating investor meetings and analyzing feedback, while the management team is responsible for clearly conveying the company's strategy and value [8] Regulatory Requirements and Compliance - HKEX imposes strict requirements on the fairness of IPO communications and the completeness of information disclosure to prevent insider trading or misleading promotions [7] Recent Trends and Innovations - Digital communication methods, such as video conferencing and virtual roadshows, have become prevalent, reducing cross-border communication costs [8] - There is an increased emphasis on ESG communication, with institutional investors particularly focused on ESG performance [8] - Retail investor engagement has evolved through online forums and live broadcasts to attract younger investors [8] - Data-driven communication strategies are being utilized by underwriting teams to tailor content based on investor preferences [8]