The planning that goes into a non-deal roadshow can be Herculean. Some IROs, however, go to the trouble of reserving management time and completing an exhausting itinerary of investor visits without making the most of those 50 minutes of face-to-face conversation. Savvy IROs, eager to make a lasting impression, place themselves in the investors’ shoes.
There is a small but critical group of portfolio managers, for instance, whose investment mandate is to meet management in person before buying shares in a company. Others may not have a formal rule but might still believe looking in the CEO’s or CFO’s eyes and hearing the story told firsthand makes an enormous difference.
