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  1. 1 Studia Ekonomiczne

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  1. 1 Golec M.

  2. 1 Wrońska E. M.

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Wycena kapitału własnego w procesie IPO

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Golec M., Wrońska E. M.
Studia Ekonomiczne
|
2014
|
vol. 198 cz 2
28-35
EN
The aim of this article is to analyze the equity valuation while undergoing the IPO process. There are a lot of factors influencing the valuation and new shares issue price setting. The research hypothesis to be verified refers to the statement that the book value of previously issued shares increases in the IPO. It means that newly issued shares are priced much higher than book value of previously issued shares. The research carried out allowed to confirm this hypothesis. Linking this observation with another one (issuing small blocks of shares) might lead to the conclusion that companies are taking advantage of being public company (gaining credibility and prestige, raising funds) and transfer the value from the new shareholders to the previous ones.
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