Ovcharenko S. Scientific and methodological support of initial public offerings

Theoretical basis for initial public offerings (IPO) is summarized, encompassing IPO essence, types, models, tools, principles, functions, and objectives. Organizational and functional pattern of IPO is analyzed. The necessity of IPO use in structuring sources of financing companies is argued. A comprehensive description of IPO of foreign issuers whose assets are located in Ukraine is made by the following criteria: geographical location of stock markets on which IPO occurs; country of issuer registration; the amount of fund-raising and directions for their use, sectoral affiliation of issuer; undervaluation / overvaluation of shares, indices of issuers' capitalization on the basis of IPO. It allowed for formalizing the impact of IPO of the foreign issuers with assets located in Ukraine on the national economy growth, by constructing the regression dependence of GDP on capitalization, at enterprise and country level. The constructed method is used to evaluate the IPO efficiency on the basis of systematic risk. A set of measures concerned with securities regulation Ukraine in the IPO context is recommended.