Estimation of the IPO efficiency of Astana bank
Journal Title: Економічний вісник університету - Year 2018, Vol 1, Issue 37
Abstract
The subject of the research is to assess the efficiency of shares’ initial public offering as an instrument of the stock market in order to raise capital on terms of continuity and irrevocability. The research aims at analysis of the practical experience of the initial public offering of shares based on the Astana Bank as a pilot project to expand the practice of equity financial instruments on the national stock market of Kazakhstan. Methods: empirical and theoretical methods, including economic observation, analysis and synthesis, grouping and comparison techniques, methods of financial analysis, system approach to phenomena and processes, mathematical modelling and forecasting, statistical analysis. Deliverables: IPO’s objectives are structured and external and internal factors contributing to the success of the initial public offering of shares are available. The research novelty is presented in the kind of a matrix of IPO efficiency criteria and its validation using the example of the IPO of the Astana Bank. Scope of the results: External and internal factors can be used by the management of a company that has a vision of placement of shares for a wider investors’ community, such as a check-list of the company's readiness for an IPO and the choice of the most appropriate time for listing on the stock exchange. The evaluation matrix of the efficiency criteria is recommended by shareholders and management of the issuers, as well as for verification of target results in and post IPO planning process. Conclusion: We concluded that the IPO carried out by the Astana Bank was successful and efficient since the majority of evaluation criteria received a positive result. However, to maintain investors’ interest and to increase the shares’ quotation, the bank needs not only consistently achieve physical indicators of the growth strategy, but also to ensure the growth of the business profitability. For other stakeholders (state, bank industry, investors), this experience is but a positive example of diversified funding sources, increased share capital through equity instruments of the national stock market of Kazakhstan.
Authors and Affiliations
Yuliya Nichkassova
Keywords
Related Articles
- EP ID EP478231
- DOI 10.5281/zenodo.1220703
- Views 117
- Downloads 0
Foreign experience of the financial regulation of insurance market is in part of regulation of the solvency
The subject of the research is the essence of European requirements to providing solvency of insurers. The goal of this work lies in the analysis of European wants to the paying capacity of insurance companies as well as...
Analysis of receipts and expenditures of the state budget of Ukraine
The purpose of research is to study the trends of receipts and use of the state budget of Ukraine. The subject of research is theoretical and practical issues of formation and use of the country’s state budget. Methods o...
Circulation of cash flows of the enterprise for manufacturing construction materials
The subject of the article is economic activity of enterprises for manufacturing construction materials, which is a continuous process of producing products, its sale and purchase of new means of production, finds its ex...
Cryptocurrency as an alternative to modern money
With the rise of the modern technologies and wide implementation of digital systems, establishment of cashless economy is perspective trend in Ukraine. In contrast to the traditional kinds of money, which can be consider...
Прогностичні моделі фінансового регулювання бюджетів територіальних громад
Актуальність теми дослідження. У сучасних умовах децентралізації особливої актуальності набуває проблема розбудови ефективної системи управління фінансами територіальних громад. Постановка проблеми. Однією з основни...