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master's thesis
Inicijalna javna ponuda dionica (IPO) društva SPAN d.d.
Diplomski rad
2023. urn:nbn:hr:145:631685
Ördög, Filip
Josip Juraj Strossmayer University of Osijek
Faculty of Economics and Business in Osijek
Chair of Finance and Accounting

Cite this document

Ördög, F. (2023). Inicijalna javna ponuda dionica (IPO) društva SPAN d.d. : Diplomski rad (Master's thesis). Osijek: Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek. Retrieved from https://urn.nsk.hr/urn:nbn:hr:145:631685

Ördög, Filip. "Inicijalna javna ponuda dionica (IPO) društva SPAN d.d. : Diplomski rad." Master's thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, 2023. https://urn.nsk.hr/urn:nbn:hr:145:631685

Ördög, Filip. "Inicijalna javna ponuda dionica (IPO) društva SPAN d.d. : Diplomski rad." Master's thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, 2023. https://urn.nsk.hr/urn:nbn:hr:145:631685

Ördög, F. (2023). 'Inicijalna javna ponuda dionica (IPO) društva SPAN d.d. : Diplomski rad', Master's thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, accessed 09 April 2025, https://urn.nsk.hr/urn:nbn:hr:145:631685

Ördög F. Inicijalna javna ponuda dionica (IPO) društva SPAN d.d. : Diplomski rad [Master's thesis]. Osijek: Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek; 2023 [cited 2025 April 09] Available at: https://urn.nsk.hr/urn:nbn:hr:145:631685

F. Ördög, "Inicijalna javna ponuda dionica (IPO) društva SPAN d.d. : Diplomski rad", Master's thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Economics and Business in Osijek, Osijek, 2023. Available at: https://urn.nsk.hr/urn:nbn:hr:145:631685

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Metadata
TitleInicijalna javna ponuda dionica (IPO) društva SPAN d.d. : Diplomski rad
Title (english)Initial Public Offering (IPO) of SPAN d.d. : Graduate paper
AuthorFilip Ördög
MentorIvana Bestvina Bukvić (mentor)
MentorDražen Novaković (komentor)
Committee memberDubravka Pekanov (predsjednik povjerenstva)
Committee memberIvana Bestvina Bukvić (član povjerenstva)
Committee memberDomagoj Karačić (član povjerenstva)
GranterJosip Juraj Strossmayer University of Osijek
Faculty of Economics and Business in Osijek
(Chair of Finance and Accounting)
Osijek
Defense date and country2023-08-28, Croatia
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Finance
Abstract
Inicijalnom javnom ponudom dionica (engl. initial public offering - IPO) društvo prvi puta izlazi na tržište kapitala što mu omogućava prikupljanje dioničkog kapitala od javnih investitora. Uspješno provedenim IPO-om, društvo SPAN d.d. je postalo prva hrvatska IT kompanija nakon 20 godina koja je izašla na Zagrebačku burzu. Rad nastoji odgovoriti na pitanja je li se poslovanje društva SPAN d.d. poboljšalo nakon provedbe IPO-a, kako se očituje uspješnost postupka te je li prikupljeni kapital... More korišten u skladu s postavljenim planom. U radu je analizirana uspješnost provedenog procesa IPO-a prikazivanjem samog puta kroz proces inicijalne ponude dionica, potražnje za dionicama te postignute cijene za ponuđene dionice. Također, analizirano je poslovanje društva prije i poslije IPO-a korištenjem horizontalne i vertikalne analize bilance i računa dobiti i gubitka te analize financijskih pokazatelja poslovanja neposredno prije i nakon provedenog procesa. U radu je analizirano i kretanje cijene dionica društva SPAN d.d. te tržišni rizik ulaganja u dionicu SPAN u razdoblju od 21 mjeseca počevši od dana uvrštenja na Službeno tržište Zagrebačke burze. Na kraju, uspoređeno je kretanje cijene dionica SPAN sa dionicama španjolskog EiDF te francuskog Omer-Decugis & Cie. Provedene analize upućuju da društvo nije u potpunosti iskoristilo prikupljeni kapital u 2021. i 2022. godini, štoviše većinu prikupljenog kapitala je i dalje držalo u novcu, dok je ostatak korišten u skladu s planom za rast na postojećim te širenje na nova tržišta pripajanjem i akvizicijama drugih društava. Također, financijski pokazatelji (ROA, ROE, neto profitna marža, itd.) su se znatno popravili nakon provedenog postupka IPO-a, dok je tržišna cijena dionice u promatranom razdoblju povećala vrijednost za više od 160 %. Less
Abstract (english)
Through the initial public offering (IPO), the company enters the capital market for the first time and can raise equity from public investors. With a successful IPO process, SPAN Inc. became the first Croatian IT company listed on the Zagreb Stock Exchange in 20 years. The aim of this study is to investigate whether the performance of SPAN Inc. has improved after the IPO, how the success of the process manifests itself and whether the raised capital was used according to the established... More plan. The study analyses the success of the IPO process by showing the journey itself through the IPO process, the demand for shares and the share prices achieved. It also examines the company's performance before and after the IPO through a horizontal and vertical analysis of the balance sheet and income statement, as well as an analysis of the financial indicators immediately before and after the process. The study also analyses the movement of the share price of SPAN Inc. and the market risk of investing in the share SPAN over a period of 21 months from the date of listing on the official market of the Zagreb Stock Exchange. Finally, a comparison is made between the movement of the share price of SPAN Inc. and the shares of the Spanish EiDF and the French Omer-Decugis & Cie. The analysis carried out show that the company did not fully utilise the capital raised in 2021 and 2022. Rather, a significant portion of the capital raised remained in cash, while the rest was used as planned for growth in existing markets and expansion into new markets through mergers and acquisitions of other companies. In addition, the financial indicators (ROA, ROE, net profit margin etc.) improved significantly after the IPO and the share price increased by more than 160 % in the observed period. Less
Keywords
Keywords (english)
Languagecroatian
URN:NBNurn:nbn:hr:145:631685
Study programmeTitle: Financial Management
Study programme type: university
Study level: graduate
Academic / professional title: sveučilišni magistar/magistra ekonomije (sveučilišni magistar/magistra ekonomije)
Type of resourceText
File originBorn digital
Access conditionsOpen access
Terms of useLicence In copyright icon
Created on2023-11-28 07:32:58
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