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SLI Systems’ IPO required an investment statement that walked a fine line between toeing the regulatory line, marketing an investment opportunity and explaining a complex hi-tech company. And often the regulations counter the explaining objective.
To assist with separating the communication streams so that navigation was clearer, we divided the Investment Statement into two distinct sections each with a separate cover: the short trimmed section at the front of the document houses the statutory information whilst the second cover helps the reader navigate directly to the key information and the storytelling aspects of the document.
SLI Systems (SLI) is a Christchurch-based Software as a Service (SaaS) business, providing dedicated site search and navigation products to ecommerce businesses that learn and improve from online shopping behaviour. Through these products SLI improves the visitor experience by delivering more relevant and accurate search results, which in turn leads to higher sales conversion rates.
SLI approached us to design and produce an investment statement for their Initial Public Offering (IPO) and listing on the New Zealand stock exchange.
Our key challenges were to explain the business to potential retail investors (making it clear that SLI’s products are concerned with website rather than internet search), helping these potential investors to understand why it is a good investment opportunity and also to produce a document that complies with new regulations concerning the structure of investment related documentation.
Our central theme for the investment statement was ‘SEARCH & FOUND’. This directly communicates the nature of SLI’s business and also subtly suggests that a good investment opportunity has been ‘found’.
To assist with navigation the document was divided into two distinct sections each with a separate cover: the short trimmed section at the front of the document houses the statutory important information whilst the second cover helps the reader navigate directly to key dates and an overview of SLI’s business before the key investment highlights.
These three more visual ‘story-telling’ spreads provide a summary of SLI’s business in easy to understand, everyday language: the first spread explains the frustration that online shoppers face when dealing with a vast array of products (with often inaccurate search results), the second spread explains how SLI’s products can help improve site search and the third communicates the global reach of SLI’s client base.
Being unable to use website imagery and without other relevant photography to draw upon, we introduced a bold, graphic approach throughout the document. Incorporated into this were easily recognisable website graphics such as the search box, magnifying glass and shopping cart. These also helped to reinforce the message that SLI’s products are related to website rather than internet search.
Feedback on the final document, both from the client and the joint lead managers of the Offer, was very positive and this was followed up by a very successful IPO with investor demand exceeding the $27 million offer by 147 percent.