Аннотация
An initial public offering of shares is a global equity instrument of the stock market, which is used as the most effective way to raise capital for solving the strategic tasks of growth and development of the company. This tool is applicable both in international and national financial markets. The purpose of this study is to analyze the practice of attracting investment by the corporate sector of Belarus, Kazakhstan and Russia for 1996—2018. The article analyzes the current state of the global capital market, the size of capitalization of global stock exchanges and the primary public offering market. The degree of development of practice and the effectiveness of using the IPO tool is shown, significant country differences are revealed. The importance of this tool during privatization on market conditions and its relevance for the development of the institutional infrastructure of national stock markets and the integrated financial market of the EAEU member states are noted. The most significant advantages of IPO as a financial instrument for implementing state economic policy are identified.