Ngakhale zovuta zazitali, bizinesi yanyumba imafuna kupita ku IPO. Alexey Bujanov, wamkulu wa kampani ya Bengala Investment, munkhaniyi ya Moscow amakuwuzani kuti ndi chiyani, ndipo adzafotokozera chifukwa chake makampani akuluakulu akufuna kuyika magawo awo pazamwano.
Chizolowezi ndi chiyani?
Ipo (Ai-Pi-o) - popereka anthu ambiri, "zopereka zoyambirira". Mu Russian IPO ikhoza kutchedwa PPP (P ku Cuba), koma liwuli lidasamalizidwa kwa ife ndi chidule choyambirira.Chizindikiro cha IPO chimabwera ku mfundo yoti kampani yoyamba imayika zigawo zake pamsika wazachuma kwa ogula osiyanasiyana. Chifukwa chake, kampaniyo imanenanso ngati:
"Moni, tikudziwa kuti tichite bizinesi yabwino, tipatseni ndalama (mwachitsanzo, pa kukula) - ndipo tidzagawana ndalama"
Openda ndalama zokwanira omwe adalandira satifiketi yoyenera yomwe ingathe kuyikidwa mu iPo (osungunuka osiyana siyana kuti apeze mawonekedwe). Chifukwa chake, amakhala ogwirizana ndi eni kampaniyo, omwe angadalire gawo la phindu, logwirizana ndi kukula kwa magawo omwe apezeka.
Makampani amayang'anitsitsa ipo akakhala m'njira yabwino kwambiri: Pakadali pano, magawowa angagulitsidwenso ndalama zambiri, pokopa ndalama zambiri. Komabe, pamavuto 2020, makampani angapo akuluakulu aku Russia anali pa ipo: SovComlot, "ndege" ndi ozon. Poyerekeza: Mu bata la zolimba za makampani akuluakulu aku Russia, ongolemba poyera.
Chodabwitsanso sichochitika, koma chizolowezi. Mu 2021, makampani aku Russia ali ndi chidwi chofuna kupita ku IPO ndikuchita, ngakhale zovuta sizipita kulikonse. Kuti mumvetsetse mfundozo, muyenera kuwerengera zomwe zachitika.
Mbiri IPo ku Russia
Kumadzulo, kampaniyo idakhala yapagulu ngakhale m'zaka zapitazi. Kampani yoyamba yapanyumba, yomwe idafika pamsika wazachuma padziko lonse lapansi, idakhala vimpecmo mu 1996.
Mavuto a 1998 asiya kuyenda kwa bizinesi yaku Russia mbali iyi, koma mu zero mafashoni awa adalemba makampani onse akuluakulu. Kuchokera pa 2000 kupita ku CRISIS 2008, makampani apanyumba adapitilira ipo makamaka pamasamba ku London ndi New York.
Sizinali mafashoni okha
Choyamba, kampaniyo ingofunika ndalama zamakono ndi ntchito zatsopano. Ndalamazi zinali zovutirapo komanso zokwera mtengo kuti zikopa ngongole, ndipo ndalama mu likulu la kumenyedwa kwa Russia limawonedwa ngati "mfulu", ngakhale kuti gawo logawana nawo lidasokonekera. Komabe, agalu omwe amathandizira ipo: Masheya adalandira mtengo weniweni wowunikira nsanja yapadziko lonse lapansi - chifukwa chake kuthekera kwa omwe amawagwiritsa ntchito kumawonjezeka.
Kachiwiri, panali kukumbukira zatsopano za nthawi yovuta pomwe kampani yomwe mumakonda kusankha zokutira zosiyanasiyana. Pankhani ya zoyambirira, zowunikira kwambiri ndi chitsimikiziro chalamulo zidatseka nkhani ya zomwe zingachitike ndi ukadaulo wakumadzulo.
Kufalikira kwa kampaniyo kenako kucheperako mwamphamvu za aparatus, akuluakulu, opikisana ndi oyang'anira. Amakhulupirira kuti kampani yotere imagwera pansi pa ulamuliro wapadziko lonse ndipo sakanakhala ndi nkhawa kuti izi zitheke.
Chifukwa chake zidatenga vuto la 2008. The IPO idathamangira mts, Wimm-Bill-Dan, Pyantochka, Stteochka, Rambler, "Sts" ndi "Rosneft"
Pambuyo pamavuto, kuthekera komanso - pamodzi ndi mtengo wotsika mtengo - kufunitsitsa kudomutsidwa poyera. Koma vuto litatha - kuyambira chaka cha 2010 mpaka 2014, - makampani akumadzulo adapitanso ku IPO, ndipo aku Russia adadzikonzera.
Mu 14 (pambuyo pa zochitika za Crimea), mutu wakudzipereka ndi mawu a dziko lonse lapansi, olamulira owonjezera adamwalira. Chifukwa cha ziphuphu kwa makampani aku Russia, msika wapadziko lonse wa anthu padziko lonse udatsekeka.
Chifukwa makampani amapita ku ipo tsopano
Masiku athu sawoneka okongola kuti apeze ipo - zobisika sizimapita kulikonse ndipo kutha.Zitsulo zazikulu zotsutsana ndi Russia posachedwa ndi zaka 7, ambulansi awo ndizocheperako kuposa kupezeka kwa mliri
Makampani okhala ndi kukula komwe amatha kupita ku IPO osati kokha pomwe msika uli wokhazikika, koma ngakhale utakula. Otsatsa ndalama poyamba amayesa kukula kwa kampaniyo, ndipo pakakhala kampani yosiyanasiyana yazachuma imakhala ndi mwayi wokula kuposa momwe zimakhalira.
Musaiwale kukula kwakukulu kumachitika pamavuto. Mwachitsanzo, makampani amifamu amagawana, ambiri omwe adasintha maxima mu 2020.
Ngakhale sikuti ndi makampani okha, chifukwa cha ntchitoyi, inali mliri pofuna. Cholinga cha dziko lonse lapansi Chuma chidatenga mu Marichi 2020: palibe amene anali wokonzekera mliri.
Tsopano zaonekeratu kuti vutoli nafe kwa nthawi yayitali, ndipo ndilofunika kukhala ndi moyo. Otsatsa ndi eni mabizinesi omwe amasinthana ndi vutoli, ndi msikayo, adalipo mantha pakuopa zochitika zosayembekezereka, adabweranso
Chofunikanso chomwe chimayambitsa kutchuka kwa ipo ndikuti coronacrishis anachepetsa kukula kwa makampani ndi misika. Ngati kale funso la kutulutsidwa pa IPO sichinali kukanikiza, tsopano - kaya mukupita tsopano ndi chiopsezo china kuti muchepetse, kapena kusokonekera kwatsopano kwa vutoli. Ndipo amene akudziwa ngati adzapulumuka ngati simupeza jakisoni sangasinthe.
Mwamwayi, makampani ambiri aku Russia amakhala ndi mwayi wabwino wopita ku msika wandalama, chifukwa chifukwa cha zovuta ndi ziphuphu zimasokonekera. Zosangalatsa pa zonse, mabizinesi omwe amatchedwa chuma chatsopano ndi makampani ozungulira komanso makampani okhudzana ndi zokambirana: Kubereka, nayenso.
Pa mapulani ogwiritsira ntchito, makampani otere amatha kuchepetsa kunenepa - izi sizolepheretsa kulowa ipo. Chifukwa, mosiyana ndi chuma chamakina (kupanga, makina, makina, malo ogulitsa), Makampani ali ndi ziyembekezo zambiri: Dziko limafunikira zosankha zawo. Ndalama sizingabweretse ndalama pakukula kwa kampaniyo, koma idzapereka mayeso oyenera mu mawonekedwe:
"Inde, anyamata awa adakali osapindulitsabe, koma apereka mamiliyoni angapo madola - zikutanthauza kuti pali mwayi"
Chitsanzo chodziwika bwino ndi msika waku Russia "Ozoni". Kampaniyo idasindikizidwa pa ipo chaka chatha. Msika unayamba kuonekera kwambiri. Pambuyo poyambirira kwa "Ozone" anawonjezera 50% ya mtengo (ndikukulabe), ngakhale anali osapindulitsa. Izi zimauziridwa ndi makampani ena: adazindikira kuti angadalire kuyerekezera kwenikweni kwa kuthekera kwawo mu ndalama, osati kungobwereza zotsatira zachuma.
Komwe amapita ku ipo
Kuphatikiza pamasamba a Western, Russian yakhalapo kale malo ogona. Chifukwa chiyani amafunikira ngati pali mayiko ena?
Choyamba, makampani ndiopindulitsa kuti musankhe nsanja zina, komanso zilankhulo zonse zomwe zingatheke - zimawonjezera madzi, capitalization, yomwe imakopa ogulitsa.
Kachiwiri, nsanja zapakhomo, nthawi zambiri zimakhala zosavuta kukhala nazo, chifukwa pamsika wa Western amasinthana kwambiri. Makampani omwe sakumana ndi ochepa ku mawebusayiti aku Russia omwe amafuna kuti azitha kuchita.
Zomwe kampani yomwe imapita ku ipo
Monga lamulo, zoopsa zonse za bizinesi inayake, kupatula munthu aliyense, ndi zoopsa zomwe zimakhala ndi mtundu wachuma komanso makampani omwe. Mwachitsanzo, kampaniyo yomwe imawapatsa nyumbayi itaya makasitomala chifukwa cha mliri (monga makampani onse omwe akudutsa ofesi), koma pali chikhulupiriro kuti mtundu wake udzalola bizinesi kuti ikhale ndi nthawi yoyambiranso.Kusiyana kwakukulu ndikuti mavuto aliwonse okhudzana ndi anthu onse ndipo zolakwika zilizonse zimavulaza kwambiri kuposa kampani yachinsinsi
Otsatsa ndalama amatsatira mosamala ndalama zawo mosamala, ndikusokeretsa - mawonekedwe odabwitsa: kampani yofalitsa pagulu imawoneka yowonekera ndikuwulula tsatanetsatane wa zochitika zake.
Ozoni adalowa bwino ipo, kuphatikiza, ndipo chifukwa cha kampani yolonjeza, yomwe "makasitomala ambiri omwe si ndalama zambiri, koma chilichonse chitha kusintha." NKHANI za anthu zomwe zili ndi mikhalidwe yoterezi sizingakhale zoopsa nthawi zonse kuti zisapewe makasitomala - ndikuchepetsa kukopa.
Kodi ndizotheka kupita ku ipo tsiku limodzi
Mwachidule: Ayi.
Kampani yaku Russia ikhoza kupita ku IPO mu 2021, ngati ikwaniritsa zofunikira izi:
- Kampaniyo iyenera kukhala yayikulu mokwanira komanso muzinthu zothandizira - makamaka zolimbitsa thupi - ndi ndalama ziti zomwe zidzachitike;
- Payenera kukhala dongosolo la chitukuko, omwe amangokonzekera kukhulupirira kuti ndi 1) yokhazikitsidwa, 2) sanyamula zoopsa;
- Kampaniyo ili okonzeka kufufuza kwa ndalama ndi kutsimikizira pamalamulo.
Zotsatira zake, ngati kampaniyo ndi yokulirapo, kusankha kupita ku ipo, sizingatheke kukhala pagulu nthawi ina: Kukonzekera chitukuko sikutsimikiziridwa kwa ogulitsawo, sadzayikidwa pamasewera a kampani kwa mwezi osakonzekera.
Masiku ano, chisangalalo chokhudza ipo ku Russia chimagwirizanitsidwa ndi chakuti pachuma padali kupuma, Capital adapeza. Msika utangoyenda, munthu wosakhulupirika adasinthidwa ndi ntchito zomwe zimapereka mwayi wokhala malo abwino
Panali ndalama zomwe zikufuna kugwiritsa ntchito. Koma ngati simukonzeka kupita ku IPO pompano, ndibwino kuti mulingalire bwino njirayi, konzekerani ndikudikirira ora lanu. Zotsatira za mavutowa zimachoka pang'onopang'ono kenako pomwe mliriwo udzapereka, nditapita zaka zingapo, malinga ngati palibe chakudya cham'mawa china chopumira.
Alexey Bujanov,
Director of Compart Compact Bengalale
Chithunzi: Getty.