Gladchuk K. Initial Public Offering Market and Ways of Its Development in Ukraine

The thesis extends theoretical and practical fundamentals of IPO market functioning. The author improves a definition "initial public offering of securities" and highlights its key features. Classification of investment funds attraction methods was generalized and place of IPO in it was identified. The economic essence and participants of IPO market were revealed, as well as organizational and methodical aspects of conducting IPO were examined. The author clarified nature of IPO risks, summarized their classification criteria and complemented IPO risk management system. Evolution of the global IPO market was generalized and key trends of its development were identified. We also revealed peculiarities of foreign IPO markets formation and growth which would be expedient for implementation in Ukrainian practice. Experience obtained by Ukrainian companies in foreign IPO markets was analyzed. Preconditions of the Ukrainian IPO market formation were determined and factors restricting its development were specified. Recommendations as to the domestic IPO market development were grounded and a structural model of its functioning was worked out.