Anzin Roman, Postgraduate of the Department of Financial, Credit and Tax Policy, National Scientific Center «Institute of Agrarian Economics», Kyiv, Ukraine

ORCID ID: 0009-0005-5570-5133
e-mail: Rome-an@ukr.net

Financial transformation of Ukrainian agricultural companies in the process of implementing IPOs on international capital markets

Abstract. Introduction. This article examines the theoretical, scientific, and practical principles of the transformation of agri-cultural companies on international capital markets. The article identifies current trends in the finan-cial transformation of Ukrainian agricultural companies during the IPO process and outlines pro-spects for mobilizing and maneuvering financial assets when changing placement instruments on in-ternational capital markets.

Purpose. The article aims to establish the theoretical and methodological basis for the financial transformation of agricultural companies on international capital markets. It seeks to identify the primary trends and effective tools for IPOs and determine the potential for mobilizing and managing financial assets through changes in placement instruments on international stock exchanges.

Results. The tools for the financial transformation of agricultural companies, which mobilize and maneuver financial assets in the form of an IPO (Initial Public Offering), are substantiated. An IPO is the initial public offering of a company’s corporate rights on international capital markets, where they are sold to a wide range of investors. In other words, it is the placement of a company’s shares on a stock ex-change by entering them in the register of shares for quotation on the trading floor (exchange listing). From the standpoint of a comprehensive (effective) approach, the author’s interpretation of the es-sence of “financial transformation of agricultural enterprises on international capital markets” is de-termined. The cost of listing on the world’s largest stock exchanges is presented. The Top 10 stock exchanges with the largest market capitalization worldwide are identified. Effective indicators of IPO implementation on stock exchanges for the top 55 public agricultural companies are analyzed in the current period. The dynamics of changes in the WIG-Ukraine Index for Ukrainian public agricultural companies’ shares listed on the Warsaw Stock Exchange during martial law are presented. The trend of the increase or decrease in the capitalization level of the financial assets of Ukraine’s leading pub-lic agricultural companies from IPOs on international capital markets is analyzed.

Conclusions. It has been proven that Ukrainian agricultural companies require guarantees of high liquidity when trading on stock exchanges in order to achieve a modern financial transformation in international capital markets. This can be achieved by offering investors a wide range of financial instruments, thereby diversifying investment areas and enabling agricultural companies to implement behavioral strategies in the market. At the same time, stock exchanges will only be able to effectively meet the needs of Ukrainian agricultural companies if they are transparent.

Keywords: financial transformation; agricultural companies; IPOs; international capital markets; stock ex-changes; stocks; liquidity; capitalization.

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