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The initial public offering (IPO) belongs to the major breakpoints in the life of a company. The transition from private into public trading represents a complex process and involves not only the existing shareholders but also other stakeholders. The study deals with agency costs that a company suffers during its IPO. I contend that these costs come from two major sources. Firstly, the agency costs resulting from relationship between shareholders and management are rising. Moreover, new subjects and new partnershi...