Analýza procesu IPO společnosti Pilulka Lékárny a.s

This bachelor's thesis on the topic "Analysis of the IPO process of Pilulka Lékárny a.s." is focused on describing processes and mechanisms of the public offering of shares. The first part of the thesis defines the general cases when the issue of shares compared to other financial resources is a more advantageous form of financing and also generally establishes the most fundamental criteria for a successful issue, which include, for example, the company's equity story, its market position and, last but not least, the correct timing of the issue itself. In addition, the thesis explains all the fundamental mechanisms and principles of public issuance and defines the costs of an IPO. In the rest of the thesis, these theoretical findings are applied to a real case study of a public issue of company Pilulka Lékárny a.s. on the START market. In this part of the thesis, among other things, the START market and its specifics are presented. Next, the whole procedure of the given IPO on this market is analyzed and its success is evaluated. The success of the issue is evaluated by comparing the targeted and actually acquired volume of capital, as well as from the point of view of investors' interest in the given issue. Based on these criteria, the issue was evaluated as very successful, while the key factors of success of the issue were primarily evaluated as Pilulka's excellent market position, its investment story, and the ideal timing of the issue, thereby confirming the general prerequisites for the success of the primary public issue.