Don’t just tell a different version of the story. Change the story!

The Equity Story, tells the story of the company, illustrating its characteristics, aiming to highlight its distinctive elements, its potential and intrinsic value, the company strategy, but above all it must outline the future aspects of the company. The Equity Story is important at every stage of a company’s life and must be constantly monitored, verified and modified on the basis of new company information and the perception the company receives from stakeholders. For example, in the IPO phase, the Equity Story is relevant to ‘correctly position’ the company on the financial market, while in the After Market phase, the Equity Story relates to the increased ‘valorisation’ of the share and to encourage any new recourse to the capital market. The Equity Story must therefore be clear and as attractive as possible to attract investment at every stage. It defines a company profile to be presented to potential investors, with the aim of inducing them to join the initial public offering and purchase the shares. In practice, it provides investors with the reasons to invest, to deploy their capital into risky entrepreneurial activity, entrusting it to the management of the issuing company. The shareholder history also outlines the company’s strategy, helping investors to assess the results if they choose to make this investment. By making their position and intentions clear, investors can easily assess whether the company fits their investment strategy. The IPO of a company is an excellent opportunity to tell the company story in a different way, changing the narrative. By enhancing the company.

The equity story reflects the company’s positioning in the market, which in turn will influence share value and share prices. From an investor perspective, being able to differentiate the company from its competitors provides greater clarity as to why investors should choose it. By indicating past performance, the equity story can provide reassurance and enthusiasm about future performance.

The main points that an equity story must emphasise, which will polarise the attention of investors and stakeholders, are:

  • The development potential, i.e. the company’s ability to grow, through a strategic plan; gaining market share, becoming a leader and innovating in its sector, the timing of growth;
  • Differentiation, what actually differentiates the company from its competitors? What really makes one’s business special?
  • The ability to manage risk, with an internal control system and the ability to handle adverse events/circumstances and react appropriately.
  • Another very relevant aspect in the Equity Story concerns the credibility of the entrepreneur or management team, which has to ensure the successful execution of the strategy and create a strong relationship of trust with the financial market and thus with investors.
  • Finally, the equity story can also influence stakeholders within the company. It can help align positioning and communication both internally and externally, making the corporate vision clearer for employees more attractive and of value to potential shareholders. From recruitment and retention of top talent to shareholder engagement, the shareholder story can have a big impact on the entire business.

Why is the equity story important? Because the equity story will ultimately determine whether the company succeeds in raising finance. It is crucial for both entrepreneurs and potential investors. On the investor side, a good equity story helps to separate the good investments from the less attractive ones.


The equity story of a company goes beyond financial data and is about how the company, products and people are perceived by the market. Although there are components of a company’s equity story that are beyond the company’s control, such as bad press, industry events or other external factors, most companies have the ability to define their message and address their story effectively.

It is necessary to tell one’s business story with an approach suitable for engaging new interlocutors – investors, financial journalists, analysts and other stakeholders: that is, the storytelling must be effective and attractive, highlighting the positive aspects of the business and the prospects for growth, without ever losing sight of credibility and viability.

The equity story is communicated through direct communication conveyed by the company and also through communication conveyed by financial analysts and financial journalists in a reworked manner.

The tools to convey the Equity Story are different and can be used depending on the relevant stakeholders and the stage of the company’s life at that time:

Financial Community; Investors, Analysts.
Prospectus, presentations, business plans, press releases, one2one meetings, roadshows, financial company profile, company website Investor Relations section, company visit, investor-conference, financial analysis and studies, etc.

Today, technology helps us to approach even distant financial markets and video-conferences or conference-calls are crucial in this process.


  • As far as the media is concerned, surely the most authoritative tool still remains the interview in which the equity story is proposed through interviews with corporate leadership as a source to increase influence and highlight corporate innovation and thus also build thought leadership
  • Participation in financial or industry television broadcasts in which the equity story and company expertise can be highlighted;
  • Press releases that are also necessary to reach a large number of online and offline journalists; news agencies, industry vertical journalists, etc. are essential.
  • Social Media;
  • Press conferences at relevant corporate events;
  • Corporate videos;
  • Company presentations, etc.

We must remember that the message is the key to building credibility and reputation. Let others talk about the company and that the purpose of media relations is to spread the equity story by giving visibility to the company by creating an online or offline story in the marketplace also told by influential voices other than the company. Every placement in terms of article/interview/appearance on TV/radio stations that the company gets represents another person telling the world about the company’s achievements, progress and/or expertise.

Positioning is a relevant factor in the communication of the equity story. Being in the right places is crucial (TIER 1 Media). It is said that the key to success is to be in the right place at the right time. Although it may seem like a mystery or a stroke of luck, being in the right place at the right time is often a matter of research, planning and application. Speaking and participating in industry events, TV shows, specific articles is one of the most useful things a company can do for its Equity Story.


Bianca Fersini Mastelloni is Chairman and CEO of Polytems HIR. She is a seasoned consultant in Corporate Communication with extensive experience for over 30 years. Since 1999 she is active in Investor Relations and Financial Communication for companies listed on the major financial markets. Bianca provides strategic IR, corporate access in Italy, Europe, USA, investor’s market intelligence, profiling investors, critical communication and reputation. A scholar of issues pertaining to Communications and Investor Relations. Bianca studied at SUNY – State University of New York, Buffalo and at Boston University, Boston, and she works as lecturer with some Italian University. Bianca is author of the book Investor Relations ed Etica , Efficacia e Vantaggi Competitivi - edited from Guerini e Associati - as of as several articles about Investor Relations and financial communication. Bianca has been selected as the most influential CEO 2023 in Italy for Investor Relations and Financial Communications by CEO Monthly, the international publisher of AI Global Media.