CONCEPT OF IPO AND MECHANISM OF ITS OPERATION
Abstract
The article explains the matters related to IPO (Initial Public Offer), describes the
general stages of the process and defines specific terms. It presents an overview the main
schemes of share offering. The article analyses relevance of IPO as financing attraction
method in terms of current business environment in Russia.
general stages of the process and defines specific terms. It presents an overview the main
schemes of share offering. The article analyses relevance of IPO as financing attraction
method in terms of current business environment in Russia.
References
1. Лукашов В.А. Процесс приобретения капитала: первичное публичное размещение акций компании (IPO)//Управление корпоративными финансами, 2004. - №4 - С. 25-26.
2. Chowdhry, Bhagwan, and Ann Sherman, International differences in oversubscription and underpricing of initial public offerings, Journal of Corporate Finance 2, 1996 - p.359-381.
3. Cornelli, Francesca, and David Goldreich, Bookbuilding and strategic allocation, Journal of Finance, 2001, p.2337-2369.
4. Karolyi, Andrew, Why do companies list shares abroad? A survey of the evidence and its managerial implications, in Financial Markets, Institutions and Instruments, V.7, N.1. New York University Salomon Center, Published by Blackwell Publishers, NY. USA. 1998.
5. Lowry, Michelle, 2002 Why does IPO volume fluctuate so much?, Journal of Financial Economics, Lowry, Michelle, and William Schwert, 2003. Is IPO pricing process efficient?, working paper, University of Rochester and NBER.
6. Sherman, A. E., Global trends in IPO methods: book building vs. auctions, Working Paper (University of Notre Dame). 2001.
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