ANALYSIS OF THE ROLE OF THE IPO MARKET IN INCREASING THE CAPITALIZATION OF THE RUSSIAN STOCK MARKET

Author(s): Chekunkova I.A., Derevyanko E.A.

Rubric: Economy

DOI: 10.21777/2587-554X-2026-1-16-24

Release: 2026-1 (56)

Pages: 16-24

Keywords: IPO, Russian stock market, capitalization, MIPO index, regression analysis, macroeconomic factors, investment attractiveness

Annotation: The article is devoted to the study the impact of the Russian initial public offering (IPO) market on the national stock market capitalization, taking into account macroeconomic conditions. The analysis of the IPO market was conducted, which examined the dynamics of the MIPO index in the period 2024–2025, and studied the volumes of funds raised and the post-IPO dynamics of the capitalization of issuer companies that carried out placements in the first half of 2024. The regression analysis was used to assess the impact of the volume of funds raised through IPO and SPO on the total capitalization of the Russian stock market, taking into account macroeconomic factors in the model, such as GDP, the M2 monetary aggregate, stock trading volume, the long-term federal loan bonds rate, and the exchange rate. A statistically significant positive relationship was revealed between the volume of funds raised through IPOs and SPOs, and market capitalization. The article presents promising areas for the development of the IPO market in Russia, including measures of state support and increasing the investment attractiveness of companies.

Bibliography: Chekunkova I.A., Derevyanko E.A. ANALYSIS OF THE ROLE OF THE IPO MARKET IN INCREASING THE CAPITALIZATION OF THE RUSSIAN STOCK MARKET // Economics and Management. – 2026. – № 1 (56). – С. 16-24. doi: 10.21777/2587-554X-2026-1-16-24