Prospectus
A prospectus must be issued by any company wanting to issue shares to the public.
Much of the information contained in a company prospectus is required to satisfy the law, as set out in the various provisions of the Companies Acts.
A preliminary version of the prospectus is sometimes issued to give potential investors useful information on the up and coming offer for sale.
A pathfinder document is seen as useful by some investors and useless by others because it never contains key information such as the price at which the shares are to be offered. A pathfinder prospectus is published for information only and does not constitute an offer for sale and is subject to amendment.