May 29, 2003
Corporate partner Steven J. Gartner was interviewed for the May edition of the IPO Journal on the success of the firm’s IPO practice and on current trends and forecasts for IPO transactions in 2003 and 2004.
Willkie partner Steven J. Gartner was interviewed for the May edition of the IPO Journal on the success of the firm’s IPO practice and on current trends and forecasts for IPO transactions in 2003 and 2004. Mr. Gartner told the IPO Journal that much of Willkie’s success in the IPO market over recent years could be attributed to the firm’s well established reputation in corporate finance in industries including financial services and healthcare. In the comprehensive interview, Mr. Gartner discussed industry sectors that are most likely to see IPO activity over the next year as well as projected IPO action in the New York region. He also provided a brief analysis of financial criteria he believes companies will have to meet in order to go public in the future. For example, he told the Journal “Net worth is not a relevant benchmark in areas like biotech and healthcare where you may be banking on the validity of a patent or the commercial opportunities that are associated with technology.” Mr. Gartner was also asked to discuss his views on the impact of the Sarbanes-Oxley Act on companies looking to go public, including the future trend for independent directors’ compensation and general out-of-pocket expenses involved in going public. Mr. Gartner told the Journal that he believes audit fees will change the most in 2003 and 2004, while legal fees, printing costs and other costs associated with IPOs will see moderate increases. The IPO Journal is posted on the IPO Vital Signs System at www.ipovitalsigns.com.