[et_pb_section fb_built=”1″ _builder_version=”4.19.0″ _module_preset=”default” background_color=”#f6f8ff” background_image=”https:\/\/fundguidr.ee\/wp-content\/uploads\/2022\/11\/BG-28.png” background_size=”initial” locked=”off” global_colors_info=”{}”][et_pb_row _builder_version=”4.19.0″ _module_preset=”default” width=”90%” custom_css_main_element=”position: unset;” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.19.0″ _module_preset=”default” custom_css_main_element=”position: unset;” global_colors_info=”{}”][et_pb_post_title meta=”off” featured_image=”off” _builder_version=”4.27.2″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ next_background_color=”#f6f8ff” _builder_version=”4.27.2″ _module_preset=”default” bottom_divider_style=”ramp2″ global_colors_info=”{}”][et_pb_row module_id=”hoius2″ _builder_version=”4.27.2″ _module_preset=”default” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.19.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb content_max_width=”100%” module_id=”aktsia2″ _builder_version=”4.27.2″ _module_preset=”default” header_font=”Nunito|700|||||||” header_text_color=”#171717″ header_font_size=”22px” body_font=”Poppins||||||||” body_text_color=”#171717″ custom_margin=”||25px||false|false” text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” locked=”off” global_colors_info=”{}”]<\/p>\n
B\u00f6rsileminek ehk IPO (Initial Public Offering) on paljude ettev\u00f5tete jaoks suur samm. See on v\u00f5imalus kaasata m\u00e4rkimisv\u00e4\u00e4rselt kapitali, t\u00f5sta ettev\u00f5tte tuntust ning pakkuda likviidsust varajastele investoritele. Ka investorite jaoks v\u00f5ib IPO olla ahvatlev v\u00f5imalus saada osa uute ja paljut\u00f5otavate ettev\u00f5tete kasvust ning teenida k\u00f5rget tootlust.<\/span><\/p>\n Kuid nagu iga investeeringuga, kaasnevad ka IPOdega riskid. M\u00f5nikord ei l\u00e4he asjad plaanip\u00e4raselt ning IPO v\u00f5ib muutuda ettev\u00f5tte ja investorite jaoks t\u00f5eliseks \u00f5udusunen\u00e4oks. Selles artiklis vaatleme, millised on IPO ohud ning uurime, mis on levinumad riskid ja probleemid, millega ettev\u00f5tted ja investorid silmitsi v\u00f5ivad seista.<\/span><\/p>\n Alustame aga algusest ning selgitame l\u00fchidalt, mis on IPO ja miks ettev\u00f5tted \u00fcldse b\u00f6rsile l\u00e4hevad.<\/span><\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.27.2″ _module_preset=”default” background_color=”#f6f8ff” global_colors_info=”{}”][et_pb_row column_structure=”3_5,2_5″ module_id=”hoius3″ _builder_version=”4.27.2″ _module_preset=”default” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_column type=”3_5″ _builder_version=”4.19.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”IPO protsess: l\u00fchi\u00fclevaade” content_max_width=”100%” module_id=”aktsia3″ _builder_version=”4.27.2″ _module_preset=”default” header_font=”Nunito|700|||||||” header_text_color=”#171717″ header_font_size=”22px” body_font=”Poppins||||||||” body_text_color=”#171717″ custom_margin=”||25px||false|false” text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n Enne kui sukeldume IPOde ohtudesse, heidame kiire pilgu IPO protsessile endale. Kuigi see v\u00f5ib tunduda lihtne \u2013 ettev\u00f5te m\u00fc\u00fcb oma aktsiaid avalikkusele ja saab selle eest raha \u2013, on tegelikkus m\u00e4rksa keerulisem.<\/span><\/p>\n IPO protsess h\u00f5lmab mitmeid etappe, mis n\u00f5uavad hoolikat planeerimist ja t\u00e4itmist:<\/span><\/p>\n Kuigi IPO protsess v\u00f5ib tunduda lihtne, on see tegelikult keeruline ja aegan\u00f5udev. See n\u00f5uab ettev\u00f5ttelt suuri ressursse ning sellele kaasnevad ka mitmed riskid.<\/span><\/p>\n [\/et_pb_blurb][\/et_pb_column][et_pb_column type=”2_5″ _builder_version=”4.19.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/fundguidr.ee\/wp-content\/uploads\/2024\/11\/ipo-ohud.webp” alt=”ipo ohud” title_text=”ipo ohud” _builder_version=”4.27.2″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ prev_background_color=”#f6f8ff” _builder_version=”4.27.2″ _module_preset=”default” background_color=”#FFFFFF” top_divider_style=”curve2″ global_colors_info=”{}”][et_pb_row module_id=”hoius3″ _builder_version=”4.27.2″ _module_preset=”default” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.19.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”IPOde v\u00f5lu: miks need on nii ahvatlevad?” content_max_width=”100%” module_id=”aktsia3″ _builder_version=”4.27.2″ _module_preset=”default” header_font=”Nunito|700|||||||” header_text_color=”#171717″ header_font_size=”22px” body_font=”Poppins||||||||” body_text_color=”#171717″ custom_margin=”||25px||false|false” text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n IPOd<\/a> pakuvad nii ettev\u00f5tetele kui ka investoritele mitmeid potentsiaalseid eeliseid, mist\u00f5ttu need on sageli v\u00e4ga ahvatlevad.<\/span><\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.19.0″ _module_preset=”default” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.19.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Ettev\u00f5tete jaoks” content_max_width=”100%” _builder_version=”4.27.2″ _module_preset=”default” header_level=”h5″ header_font=”Nunito|700|||||||” header_text_color=”#171717″ header_font_size=”18px” body_font=”Poppins|300|||||||” body_text_color=”#171717″ custom_margin=”||25px||false|false” text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n [\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.27.2″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Investorite jaoks” content_max_width=”100%” _builder_version=”4.27.2″ _module_preset=”default” header_level=”h5″ header_font=”Nunito|700|||||||” header_text_color=”#171717″ header_font_size=”18px” body_font=”Poppins|300|||||||” body_text_color=”#171717″ custom_margin=”||25px||false|false” text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row module_id=”hoius3″ _builder_version=”4.27.2″ _module_preset=”default” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.19.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb content_max_width=”100%” module_id=”aktsia3″ _builder_version=”4.27.2″ _module_preset=”default” header_font=”Nunito|700|||||||” header_text_color=”#171717″ header_font_size=”22px” body_font=”Poppins||||||||” body_text_color=”#171717″ custom_margin=”||25px||false|false” text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n Need potentsiaalsed eelised teevad IPOdest ahvatleva v\u00f5imaluse nii ettev\u00f5tetele kui ka investoritele. Kuid nagu me j\u00e4rgmises osas n\u00e4eme, ei ole IPOd alati edulugu ning nendega kaasnevad ka m\u00e4rkimisv\u00e4\u00e4rsed riskid.<\/span><\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ prev_background_color=”#FFFFFF” next_background_color=”#FFFFFF” _builder_version=”4.27.2″ _module_preset=”default” background_color=”#F6F8FF” top_divider_style=”wave2″ bottom_divider_style=”ramp2″ global_colors_info=”{}”][et_pb_row module_id=”hoius3″ _builder_version=”4.27.2″ _module_preset=”default” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.19.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”IPO ohud: kui asjad l\u00e4hevad viltu” content_max_width=”100%” module_id=”aktsia3″ _builder_version=”4.27.2″ _module_preset=”default” header_font=”Nunito|700|||||||” header_text_color=”#171717″ header_font_size=”22px” body_font=”Poppins||||||||” body_text_color=”#171717″ custom_margin=”||25px||false|false” text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n Kuigi IPOd v\u00f5ivad tunduda paljulubavad, ei ole need alati edulood. Tegelikkuses v\u00f5ib IPO protsess olla keeruline ja riskantne ning paljud ettev\u00f5tted ja investorid on pidanud pettuma.<\/span><\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”3_5,2_5″ _builder_version=”4.19.0″ _module_preset=”default” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_column type=”3_5″ _builder_version=”4.19.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”IPO eba\u00f5nnestumine” content_max_width=”100%” _builder_version=”4.27.2″ _module_preset=”default” header_level=”h5″ header_font=”Nunito|700|||||||” header_text_color=”#171717″ header_font_size=”18px” body_font=”Poppins|300|||||||” body_text_color=”#171717″ custom_margin=”||25px||false|false” text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n Mitte iga IPO ei j\u00f5ua edukalt l\u00f5pule. M\u00f5nikord ei suuda ettev\u00f5tted lihtsalt piisavalt investorite huvi \u00e4ratada v\u00f5i on turutingimused ebasoodsad. N\u00e4iteks 2022. aastal t\u00fchistati v\u00f5i l\u00fckati edasi palju IPO-sid kogu maailmas, kuna investorid muutusid ettevaatlikumaks majanduslanguse ja geopoliitiliste pingete t\u00f5ttu.<\/span><\/p>\n Isegi kui ettev\u00f5te j\u00f5uab edukalt b\u00f6rsini, ei pruugi see t\u00e4hendada edu. Paljud ettev\u00f5tted on n\u00e4inud oma aktsiahindade j\u00e4rsku langust p\u00e4rast IPO-d, mis on toonud kaasa suuri kaotusi investoritele. N\u00e4iteks 2021. aastal tegi UK toidukulleri platform <\/span>Deliveroo <\/span><\/a>v\u00e4ga oodatud IPO, kuid selle aktsia hind langes kohe IPOst j\u00e4rgmisel p\u00e4eval ligi 30%.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n [\/et_pb_blurb][et_pb_blurb title=”Pettused ja v\u00e4\u00e4rk\u00e4itumine” content_max_width=”100%” _builder_version=”4.27.2″ _module_preset=”default” header_level=”h5″ header_font=”Nunito|700|||||||” header_text_color=”#171717″ header_font_size=”18px” body_font=”Poppins|300|||||||” body_text_color=”#171717″ custom_margin=”||25px||false|false” text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n Kahjuks ei ole IPO-de maailm immuunne pettuste<\/a> ja v\u00e4\u00e4rk\u00e4itumise suhtes. M\u00f5ned ettev\u00f5tted v\u00f5ivad IPO prosessis esitada liialdatud finantsprognoose v\u00f5i varjata olulisi riske, et meelitada investoreid. Samuti v\u00f5ib esineda siseringitehingute v\u00f5i muude ebaseaduslike tegevuste ohtu.<\/span><\/p>\n \u00dcks tuntumaid n\u00e4iteid pettusest on Ameerika \u00dchendriikide ettev\u00f5te <\/span>Theranos<\/span><\/a>, mis v\u00e4itis, et on v\u00e4lja t\u00f6\u00f6tanud revolutsioonilise vereanal\u00fc\u00fcsi tehnoloogia. Kuigi IPOni ettev\u00f5te ei j\u00f5udnud, olid nad siiski investoritelt kokku kogunud \u00fcle 700 miljoni dollari. Seej\u00e4rel selgus aga, et ettev\u00f5tte tehnoloogia ei t\u00f6\u00f6tanud ning ettev\u00f5te varises kokku, j\u00e4ttes investorid suurte kahjudega.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n [\/et_pb_blurb][et_pb_blurb content_max_width=”100%” module_id=”aktsia3″ _builder_version=”4.27.2″ _module_preset=”default” header_font=”Nunito|700|||||||” header_text_color=”#171717″ header_font_size=”22px” body_font=”Poppins||||||||” body_text_color=”#171717″ custom_margin=”||25px||false|false” text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n Need n\u00e4ited toovad esile IPO-de pahupoole ning r\u00f5hutavad, et investorid peavad olema ettevaatlikud ja tegema p\u00f5hjalikku uurimist\u00f6\u00f6d enne IPO-desse investeerimist.<\/span><\/p>\n [\/et_pb_blurb][\/et_pb_column][et_pb_column type=”2_5″ _builder_version=”4.27.2″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Raskused p\u00e4rast IPO-d” content_max_width=”100%” _builder_version=”4.27.2″ _module_preset=”default” header_level=”h5″ header_font=”Nunito|700|||||||” header_text_color=”#171717″ header_font_size=”18px” body_font=”Poppins|300|||||||” body_text_color=”#171717″ custom_margin=”||25px||false|false” text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n B\u00f6rsileminek toob ettev\u00f5tetele endaga kaasa ka mitmeid uusi v\u00e4ljakutseid. Avaliku ettev\u00f5ttena peavad nad j\u00e4rgima rangeid aruandlusn\u00f5udeid ning avaldama regulaarselt oma finantsandmeid. See v\u00f5ib olla aegan\u00f5udev ja kulukas. Lisaks suureneb avalikule ettev\u00f5ttele surve n\u00e4idata h\u00e4id tulemusi, et hoida investorite usaldust ja aktsiahind k\u00f5rgel.<\/span><\/p>\n M\u00f5ned ettev\u00f5tted v\u00f5ivad p\u00e4rast IPO-d keskenduda liiga palju l\u00fchiajalistele eesm\u00e4rkidele, nagu n\u00e4iteks kvartalitulemuste parandamisele, selle asemel et keskenduda pikaajalisele kasvule ja innovatsioonile. See v\u00f5ib kahjustada ettev\u00f5tte pikaajalist konkurentsiv\u00f5imet.<\/span><\/p>\n [\/et_pb_blurb][et_pb_image src=”https:\/\/images.pexels.com\/photos\/7172981\/pexels-photo-7172981.jpeg?auto=compress&cs=tinysrgb&w=1260&h=750&dpr=1″ _builder_version=”4.27.2″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ use_custom_gutter=”on” gutter_width=”2″ specialty=”on” background_color_2=”#f8f9ff” padding_top_2=”20px” padding_right_2=”20px” padding_bottom_2=”20px” padding_left_2=”20px” padding_top_bottom_link_2=”false” padding_left_right_link_2=”false” custom_css_main_2=”border: 1px solid rgba(53, 86, 191, 0.2);||border-radius: 5px;||padding-bottom: 20px !important;” _builder_version=”4.27.2″ _module_preset=”default” background_color=”#FFFFFF” width=”100%” max_width=”100%” inner_width=”90%” bottom_divider_style=”curve2″ bottom_divider_color=”#f6f8ff” global_colors_info=”{}”][et_pb_column type=”2_3″ specialty_columns=”2″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_row_inner module_id=”hoius2″ _builder_version=”4.27.2″ _module_preset=”default” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_column_inner saved_specialty_column_type=”2_3″ _builder_version=”4.19.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”L\u00e4bikukkunud IPOd ja pettumused” content_max_width=”100%” module_id=”aktsia2″ _builder_version=”4.27.2″ _module_preset=”default” header_font=”Nunito|700|||||||” header_text_color=”#171717″ header_font_size=”22px” body_font=”Poppins||||||||” body_text_color=”#171717″ custom_margin=”||25px||false|false” text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” locked=”off” global_colors_info=”{}”]<\/p>\n Kuigi IPO-maailmas on mitmeid edulugusid, ei ole see siiski riskivaba. Vaatame m\u00f5nda tuntud n\u00e4idet, kus asjad ei l\u00e4inud p\u00e4ris plaanip\u00e4raselt.<\/span><\/p>\n [\/et_pb_blurb][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner use_custom_gutter=”on” gutter_width=”2″ _builder_version=”4.19.0″ _module_preset=”default” custom_padding=”||0px||false|false” locked=”off” global_colors_info=”{}”][et_pb_column_inner saved_specialty_column_type=”2_3″ _builder_version=”4.19.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”WeWork: \u00fclehinnatud unistused” icon_placement=”left” image_icon_width=”20px” content_max_width=”100%” icon_placement_tablet=”top” icon_placement_phone=”top” icon_placement_last_edited=”on|tablet” module_class=”educationcareerdetail_section2_blurb” _builder_version=”4.27.2″ _module_preset=”default” header_font=”Poppins||||||||” header_text_color=”#171717″ header_font_size=”15px” header_line_height=”1.3em” body_font=”|300|||||||” body_text_color=”#000000″ text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” custom_css_blurb_image=”margin-bottom: 0;||width: auto;” custom_css_blurb_title=”padding-bottom: 0;” custom_css_blurb_content=”display: flex;||align-items: center;” global_colors_info=”{%22gcid-4be89a11-e1d4-4e38-bd60-3e2564590e85%22:%91%22icon_color%22%93}” custom_css_blurb_image_tablet=”margin-bottom: 5px;||width: auto;” custom_css_blurb_image_last_edited=”on|tablet” custom_css_blurb_content_tablet=”display: block;” custom_css_blurb_content_last_edited=”on|tablet” custom_css_blurb_image_phone=”margin-bottom: 5px;||width: auto;” custom_css_blurb_content_phone=”display: block;”]<\/p>\n WeWork<\/span><\/a>, \u00fchiskontorite pakkuja, oli 2019. aastal \u00fcks enim oodatud IPO-sid. Ettev\u00f5te oli hinnatud 47 miljardi dollarile ning selle asutaja Adam Neumann oli tuntud oma karismaatilise juhtimisstiili ja ambitsioonikate plaanide poolest. Kuid IPO-prospekti avaldamine t\u00f5i esile mitmeid murettekitavaid aspekte, sealhulgas ettev\u00f5tte suured kahjumid, ebaselge \u00e4rimudel ja Neumanni vastuoluline juhtimisstiil. Investorid muutusid ettevaatlikuks ning WeWork oli sunnitud IPO-d edasi l\u00fckkama ja oma hinnangut oluliselt allapoole korrigeerima. L\u00f5puks l\u00e4ks ettev\u00f5te 2021. aastal SPAC-i (Special Purpose Acquisition Company) kaudu b\u00f6rsile palju madalama v\u00e4\u00e4rtusega.<\/span><\/p>\n [\/et_pb_blurb][et_pb_blurb title=”Uber ja Lyft: kasumlikkuse k\u00fcsimus” icon_placement=”left” image_icon_width=”20px” content_max_width=”100%” icon_placement_tablet=”top” icon_placement_phone=”top” icon_placement_last_edited=”on|tablet” module_class=”educationcareerdetail_section2_blurb” _builder_version=”4.27.2″ _module_preset=”default” header_font=”Poppins||||||||” header_text_color=”#171717″ header_font_size=”15px” header_line_height=”1.3em” body_font=”|300|||||||” body_text_color=”#000000″ text_orientation_tablet=”center” text_orientation_phone=”center” text_orientation_last_edited=”on|tablet” custom_css_blurb_image=”margin-bottom: 0;||width: auto;” custom_css_blurb_title=”padding-bottom: 0;” custom_css_blurb_content=”display: flex;||align-items: center;” global_colors_info=”{%22gcid-4be89a11-e1d4-4e38-bd60-3e2564590e85%22:%91%22icon_color%22%93}” custom_css_blurb_image_tablet=”margin-bottom: 5px;||width: auto;” custom_css_blurb_image_last_edited=”on|tablet” custom_css_blurb_content_tablet=”display: block;” custom_css_blurb_content_last_edited=”on|tablet” custom_css_blurb_image_phone=”margin-bottom: 5px;||width: auto;” custom_css_blurb_content_phone=”display: block;”]<\/p>\n\n
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