Essays about: "IPOs underpricing"

Showing result 1 - 5 of 21 essays containing the words IPOs underpricing.

  1. 1. Underpricing in Swedish IPOs : An investigation of the current situation and possible causes

    University essay from Högskolan i Jönköping/Internationella Handelshögskolan; Högskolan i Jönköping/Internationella Handelshögskolan

    Author : Anders Ramsin; Kristoffer Göthner; [2015]
    Keywords : IPO; Underpricing;

    Abstract : Using a unique dataset of 41 IPOs from 2005 to 2015, we investigate the underpricing situation in the NASDAQ OMX Stockholm stock exchange. Our findings show a mean underpricing of 4.9% for the period, with values ranging from -20% to 28.3%. READ MORE

  2. 2. Initial Returns and Long-Run Performance of Private Equity-backed IPOs in the UK: The Post-Y2K Experience

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Tom Lange; Pascal Rietmann; [2015]
    Keywords : Initial Public Offering; Private Equity; Venture Capital; Underpricing; After-Market Performance;

    Abstract : This paper studies a sample of 257 initial public offerings (IPO) that occurred in the period from 2001 to 2011, differentiated into sub-samples of 32 venture capital-backed (VC), 55 buyout-backed (BO), and 170 non-backed (NB) share issuances undertaken on the London Stock Exchange's (LSE) Main Market and Alternative Investment Market. We separately analyze initial first-day returns, commonly referred to as underpricing, as well as long-run after-market performance using an event study setting with a horizon of 36 months. READ MORE

  3. 3. IPO Underpricing Following Private Placements: An analysis on the effect of equity and debt private placements on underpricing during subsequent IPOs

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Johanna Rydén; Filip Landare; [2015]
    Keywords : Private placements; underpricing; ex ante uncertainty; certification; monitoring;

    Abstract : The purpose of this thesis is to investigate the relationship between having conducted a private placement of equity or debt, prior to going public, and the subsequent IPO underpricing. We compare a sample of 107 IPOs with prior private placements of equity and 95 IPOs with prior private placements of debt to two control groups, matched by industry, issue year and issue size. READ MORE

  4. 4. The Impact of First-Day Returns on the Listing Location Decision in International IPOs

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Jan Kälin; Lionel Fracheboud; [2015]
    Keywords : Listing location decision; International IPOs; IPO underpricing;

    Abstract : The thesis at hand introduces historical first-day returns as a predictor for the listing location decision in international initial public offerings (IPO). Furthermore, it examines the moderating impact of firm characteristics on the effect of first-day returns. READ MORE

  5. 5. The Degree of Underpricing in the Swedish Market : An analysis of the most relevant factors influencing IPO underpricing between main and secondary markets

    University essay from Umeå universitet/Företagsekonomi; Umeå universitet/Företagsekonomi

    Author : Xiaofan Hu; Lars Andreas Sundberg; [2014]
    Keywords : IPO; Sweden; Underprice;

    Abstract : Underwriters evaluate the optimum price of IPO issued shares and conduct underpricing based on a higher degree of risk and information asymmetry. These are calculated under a series of determined risk proxies that adjust the most suitable offering and opening price of IPOs in both main and second tier markets. READ MORE