Initial public offering in Poland, issuer manual

Abstract

The purpose of this thesis is to discuss in details all the procedures and steps that must be completed on the path to debut as well as provide information about construction of Polish financial market, types of Initial Public Offerings in Poland and related external institutions. Furthermore, apart from analyzing Initial Public Offerings conducted on the regulated market of Warsaw Stock Exchange, this thesis provides the procedures for debutants on the alternative market called NewConnect which is regarded as a brand new product of the Warsaw Stock Exchange. Combination of the information, should enable issuers to made a right decision on the type of the Initial Public Offering that should be conducted in order to gain desired benefits. Moreover, all procedural information is written in the understandable and clear way so that even people not related to financial sector will have no problems with understanding all the steps that should be followed on the path to debut. In the further sections, it presents the benefits flowing from entering the stock exchange as well as the concerns that companies face before and after entering the market. One also can find a description of main factors influencing a current situation on the Warsaw Stock Exchange. Final sections of this thesis describe the difference between the initial public offering concerning regulated market and NewConnect as well as benefits coming from these markets. In addition, the thesis mentions the NewConnect as an alternative opportunity for small and medium enterprises. The information might help business owners to make decisions on which method of gaining capital to use and why Initial Public Offering is an interesting opportunity and alternative.