Primäärimarkkina

Primäärimarkkina refers to the market where securities are first issued and sold. This is where companies, governments, or other entities raise capital by selling new stocks or bonds directly to investors. Think of it as the initial offering stage. The most common examples are initial public offerings (IPOs) for stocks and new government bond issuances.

In the primäärimarkkina, the issuer receives the proceeds from the sale, minus any fees paid to intermediaries like investment banks. These banks often underwrite the offering, meaning they purchase the securities from the issuer and then resell them to the public. The price in the primäärimarkkina is typically determined through a process that considers market demand and the issuer's financial standing.

The existence of a primäärimarkkina is crucial for economic growth, as it allows entities to fund expansion, research and development, or public projects. It provides the initial capital infusion that can drive innovation and infrastructure development. Without this primary market, raising significant funds would be considerably more challenging. It's distinct from the secondary market, where already issued securities are traded between investors.