financeФинансы: теория и практика/Finance: Theory and PracticeFinance: Theory and Practice2587-56712587-7089Financial University under The Government of Russian Federation10.26794/2587-5671-2021-25-6-16-28finance-1377Research ArticleДЕНЕЖНО-КРЕДИТНАЯ ПОЛИТИКАMONETARY & CREDIT POLICYАнализ динамики сделок IPO в банковском сектореAnalysis of the dynamics of IPO transactions in the banking sectorhttps://orcid.org/0000-0002-7422-5515БеляевВ. А.BelyaevV. A.

Владимир Андреевич Беляев — соискатель на базовой кафедре Газпромбанка «Экономика и банковский бизнес» Международного института энергетической политики и дипломатии

Москва

Vladimir A. Belyaev — post-graduate student at the Department of Gazprombank “Economics and Banking Business”, International Institute of Energy Policy and Diplomacy

Moscow

v.a.belyaeff@gmail.comМГИМО МИД РоссииРоссияMoscow state institute of international relationsRussian Federation2021221220212561628Copyright © Беляев В.А., 20212021Беляев В.А.Belyaev V.A.This work is licensed under a Creative Commons Attribution 4.0 License.https://financetp.fa.ru/jour/article/view/1377

IPO (первичное публичное размещение) является распространенным инструментом финансирования в мире, однако в научном сообществе мало внимания уделяется динамике IPO в банковской сфере. Цель исследования — критический анализ динамики сделок первичных публичных размещений кредитных организаций с 1 января 2000 по 31 декабря 2020 г. Методология исследования включает аналитические методы сбора и обработки информации, сравнительный, а также графический анализ базы данных, собранной автором и состоящей из 305 сделок IPO банков в период с 2000 по 2020 г. Проведено сравнение динамики сделок IPO кредитных учреждений из развитых и развивающихся стран, выявлены присущие каждому рынку характеристики и даны объяснения различиям в динамике. Выявлена кластеризация на рынке первичных публичных размещений акций кредитных учреждений и проведено сравнение кластеризации на рынке банковских IPO с общим рынком первичных публичных размещений. Показано, что кредитные учреждения по всему миру активно привлекали финансирование через сделки по первичному публичному размещению акций, совокупно разместив свои акции на сумму 218 млрд долл. США. Основной объем средств привлекли кредитные организации с развивающихся рынков — в первую очередь из Китая. За данный период на рынке банковских IPO наблюдалось 3 волны IPO, характеризующихся значительным ростом объемов размещения и доходности первого дня торгов. Данная кластеризация на рынке первичных публичных размещений акций кредитных учреждений не являлась характерной только для банковского сектора, а совпала с глобальным ростом числа сделок и доходности IPO. Сделаны выводы: размещение акций кредитных организаций в период «горячего» рынка наиболее перспективно с точки зрения объема и динамики привлечения средств; рынок IPO кредитных учреждений сохраняет высокий потенциал роста, прежде всего в странах Азии и СНГ

IPO (initial public offering) is a widespread financing instrument in the world, however, the scientific community pays little attention to the dynamics of IPOs in the banking sector. The aim of the study is to critically analyze the dynamics of IPO transactions of credit institutions on the horizon from January 1, 2000, to December 31, 2020. The research methodology includes analytical methods for collecting and processing information, comparative and graphical analysis of the database collected by the author and consisting of 305 IPOs of banks from 2000 to 2020. The study compares the dynamics of IPO transactions of credit institutions from developed and developing countries, identifies characteristics inherent in each market, and explains the differences in market dynamics. The study reveals clustering in the IPO market of credit institutions and compares clustering with the general market of initial public offerings. It is shown that lending institutions around the world have actively attracted funds through IPO, having placed their shares for a total of $ 218 billion. The bulk of the funds were attracted by banks from emerging markets, primarily from China. During this period, there were 3 IPO waves on the banking IPO market, characterized by a significant increase in placement volumes and profitability on the first day of trading. This clustering in the IPO market of credit institutions was not typical only for the banking sector but coincided with the global growth in the number of transactions and IPO yields. The author concludes that the placement of shares of credit institutions during the hot market period is the most promising in terms of the volume and dynamics of raising funds; the IPO market of credit institutions retains high growth potential, primarily in Asia and the CIS.

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The authors declare that there are no conflicts of interest present.