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Finance and Credit
 

Refining going-public methods

Vol. 27, Iss. 4, APRIL 2021

PDF  Article PDF Version

Received: 15 February 2021

Received in revised form: 1 March 2021

Accepted: 15 March 2021

Available online: 29 April 2021

Subject Heading: Securities market

JEL Classification: G15, G23, G24

Pages: 934–960

https://doi.org/10.24891/fc.27.4.934

Artur A. NAZAR'YANTS Financial University under Government of Russian Federation, Moscow, Russian Federation
artur_1001@mail.ru

https://orcid.org/0000-0003-0692-2383

Subject. The article examines the foreign experience of global trading platforms related to alternative ways of listing company shares on stock exchanges.
Objectives. I study the feasibility of adapting other methods of placing shares on Russian stock exchanges in order to develop the national financial market and increase the number of traded shares.
Methods. The study is based on general scientific methods of analysis and synthesis, comparative and comparative analysis, graphical method of analysis.
Results. As a result of the analysis of international experience and innovative methods of listing, it was determined that there are legal obstacles that currently limit the possibility of using new methods of listing shares in the Russian market. At the same time, there is a demand from small and medium-sized businesses, as well as large Russian non-public companies, for simpler and less expensive ways to enter the equity capital market.
Conclusions. The emergence of additional ways for companies to enter the stock exchange opens up more diversified and less expensive ways for issuers to place their shares, as well as expands the investor base and the overall attractiveness of the Russian financial market.

Keywords: IPO, DPO, SPAC, SME

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