Analysis of the Current Situation in the Area of IPO on the Czech Capital Market

Tomáš Meluzín, Michal Pavlíček



Funding the development of the company through the ‘Initial Public Offering’ has a high representation globally, the Czech Republic unlike, and belongs to traditional methods of raising funds necessary for the development of business in the developed capital markets. Under the conditions of the Czech capital market it is possible to identify only few companies, who attempted to fund through the IPO way at present. The objective of this paper is to analyze the current situation in the area of IPO on the Czech capital market and identify the causes of the low number of IPO s in the Czech Republic. The paper was written with the financial support of the Czech Science Foundation (Grant Agency of the Czech Republic), grant project No. 402/09/P134 ‘Decision Model of Company Financing via IPO ’.


Initial Public Offering (IPO); Financing; Czech Republic

Full Text:



Asociace pro kapitálový trh ČR. Některá doporučení k zavedení primárních emisí akcií do praxe českého kapitálového trhu. Praha: AKATČR, 2001. 6 s. Available from

Carter R. B., Manaster S., (1990), Initial Public Offering and Underwriter Reputation, “Journal of Finance”, Vol. 45, No. 4.

Ernst & Young., 2008: Growth during economic uncertainty: Global IPO Trends Report 2008 [online]. [cit. 2008-06-02]. Available from:

Georgen M., (1998), Corporate Governance and Financial Performance: A study of German and UK Initial Public Offerings, Edward Edgar, Cheltenham, U.K. and Northampton, Massachusetts. 1998.

Giudici G., Vedove F.D., Randone P. A., (2005), The evolution of Initial Public Offerings in Italy, “BItNotes”, No. 14.

Huyghebaert N., Hulle Van C., (2006), Structuring the IPO: Empirical evidence on the portions of primary and secondary shares, “Journal of Corporate Finance”, vol. 12

Jenkinson T., Ljungqvist A., (2001), Going Public: The Theory and Evidence on How Companies Raise Equity Finance, Oxford University Press, Oxford, 2001.

Khurshed A. Paleari S., Vismara S., (2005), The Operating Performance of Initial Public Offerings: The UK Experience. Universita di Bergamo, Working Paper, 2005,

Ritter J.R., (1998), Initial Public Offerings, “Contemporary Finance Digest”, Vol. 2, No. 1.

Rose P.S., (1992), Money and capital markets. Boston: IRWIN,

Welch I., (2006), A First Course in Finance [online], [cit. 2006–08–22]

p-ISSN 1689-765X
e-ISSN 2353-3293

Partnerzy platformy czasopism