I meant operationally mature as in they have the financial controls, auditing and reporting to be public. That's not trivial for a company to do, especially a startup.
It is not trivial, but it is not unheard of. There is a fixed minimum cost on the compliance and it must offset the better price you get from public money or reputational benefits of being public. The trick is make sure that this cost is low as possible, but still ensuring the markets' integrity and fairness.
* Quality information is available for investors to make rational investment decisions
* Information is available fairly - no insider trading
> still ensuring the markets' integrity and fairness.
Existing reporting requirements does not ensure markets' integrity and fairness in much of the world, US included.
I think, to some extend, the presumption of truthfulness in financial reporting is even giving edge to bad players, and penalises "boring" businesses that have nothing to show but dividends, and a track record paying them.
It is much easier to "pool the wool" with some fancy paid off analyst reporting for a tech business with dubious repute than say a concrete factory.
* Quality information is available for investors to make rational investment decisions
* Information is available fairly - no insider trading