Koszty obecności spółki na rynku NewConnect i ich postrzeganie przez emitentów
The costs of a company’s presence on the NewConnect market and its perception by issuers

Summary/Abstract: The aim of the article is to analyse the costs of companies’ presence on NewConnect and to examine its perception by issuers listed on this market. The hypothesis tested in the article states that companies consider the costs of being listed on the NewConnect market as high. This can limit the development of NewConnect, through negative perception of this market directly by issuers, and also indirectly by investors and the media. The hypothesis was verified with the use of a survey conducted among companies listed on the NewConnect market. In the survey, over 70% of companies considered the cost of being listed on NewConnect to be too high. Considering that the attitude to the costs of being listed is the most negative in the group of companies that have raised the least capital (less than PLN1 million), it is very important for the perception of the market that attention is paid to the quality of companies admitted to the NewConnect market by its organizer: the Warsaw Stock Exchange in Warsaw. In particular, in the case of companies that will carry out larger (i.e. several million PLN) issues of shares, the ratio of the cost of presence on NewConnect to the amount raised will be more favourable, which, together with the improvement in the stock market conditions, should improve the market assessment by issuers.

• Details
• Contents