Young companies in their initial phase are often funded and supported by ​venture capital firms, typically composed of ​capital market professionals. If these firms deem a company suitable for the ​stock market, a comprehensive analysis is conducted, which may involve examining the company’s data or comparing it to already publicly traded companies in the same industry. External experts are usually hired to conduct these analyses, although complete independence is not always guaranteed. Ultimately, the company and its existing shareholders are interested in securing a high selling price (offer price) for the stocks. Usually, every IPO is accompanied by a syndicate of banks that strive to attract institutional investors in advance, aiming to determine the prospective price. The final offering price is typically determined through the bookbuilding process, where the syndicate of banks publicly offers the stocks for subscription within a period of one to two weeks. During this time, as an investor, you can specify the number of stocks you wish to acquire at what maximum price. The balance of supply and demand thus determines the offering price. Naturally, the parties involved attempt to take a company public when there is significant interest, such as an optimistic investor sentiment or when the company’s industry is receiving considerable attention.