com/locate/jbf Underpricing of IPOs: Firm-, issue- and country-specific characteristics Peter-Jan Engelen a,*, Marc van Essen b a b Utrecht University, School of Economics, Utrecht, The Netherlands Erasmus University, Rotterdam School of Management, Rotterdam, The Netherlands a r t i c l e i n f o a b s t r a c t Using a large firm-level dataset of 2920 IPOs from 21 countries we examine the impact of country-level institutional characteristics on the underpricing of IPOs. Through hierarchical
Words: 13737 - Pages: 55
Coal India IPO - The Mother of All IPOs Abstract:Coal India Limited (CIL), a Navratna PSU and the largest coal producing company in the world, came up with an Initial Public Offering (IPO) in October 2010, the biggest in the history of the Indian stock market. The IPO sought to raise funds close to INR 1,500,000 million by selling 631.63 million equity shares. Prior to this, the Reliance IPO had been the biggest IPO ever. The price band of the IPO was fixed at INR 225-245. Though the response
Words: 716 - Pages: 3
saham perdana/ Innitial Public Offering (IPO). Keputusan Netscape untuk melakukan IPO atau menjadi perusahaan go public relatif cukup mengejutkan, mengingat kehadiran Netscape di industri baru berumur 16 bulan dan sampai pertengahan tahun 1995 Netscape belum menghasilkan profit. Padahal berdasarkan data IPO Market sejak tahun 1990 sampai dengan 1994, rata-rata perusahaan yang melakukan IPO telah berumur 6-7 tahun. Setelah keputusan Netscape akan melakukan IPO, perusahaan segera melakukan tahapan-tahapan
Words: 736 - Pages: 3
[pic] IPO Valuation By: Ryan DeCoudres & Jose Alessandro de Vasconcelos March 24, 2009 TABLE OF CONTENTS INTRODUCTION 2 COMPANY AND INDUSTRY BACKGROUND 3 GOING PUBLIC 4 THE IPO PROCESS 5 JETBLUE VALUATION 10 RECOMMENDATION 12 WHAT HAPPENED 12 REFERENCES 15 INTRODUCTION Following the terrorist attacks of 9/11, the airline
Words: 3877 - Pages: 16
what price would you recommend for the offering? IV. Should Mark invest in the IPO? V. What alternatives to the IPO might be available to the company? I. Advantages & Disadvantages of Going Public The main advantages of Rosetta Stone going public are that an IPO would allow them the capital to expand their business into new markets as well as build on the Rosetta Stone brand. The IPO would also help them establish business credibility as a public firm. As a public company
Words: 1463 - Pages: 6
performance. Before IPO The primary mission and goal of Facebook CEO, Mr. Zuckerberg, before the company’s IPO, is to “connect the world digitally with Facebook” and increase its total membership (Rusli, 2014). Mr. Zuckerberg kept his primary mission of Facebook and cared less about the revenue. His strategy of Facebook at this point was to attract as many users as he would without placing more importance on how to make a lot of money. Facebook’s strategy before IPO is not a winning strategy
Words: 1026 - Pages: 5
Build and they will come has possibly been not executed before in India on such a large scale. The Rs 2,000 crore, initial public offering of Lavasa Corporation Ltd, promoted by Mumbai-based infrastructure group, Hindustan Construction Company (HCC) is likely to be postponed to next fiscal, after it received a show cause notice on 25 November to stop construction of the project from the Ministry of Environment and Forests and after its name surfaced in the bribe for loan scam. Lavasa city,
Words: 2542 - Pages: 11
advantage of going public? a. | new capital for the company | b. | listed stock for use as compensation | c. | stock price emphasis | d. | personal wealth and liquidity | ANS: C PTS: 1 DIF: M REF: 11.3 The U.S. Market for IPOs NAT:
Words: 7892 - Pages: 32
IPO When a company decides to go public it is viewed as no longer been owned by a set of private individuals, but instead, it is viewed as now being owned by those individuals as well as by members of the public (or shareholders). This ownership is acquired by shareholders through the purchase of shares in an Initial Public Offering (IPO) or even after an IPO. “An Initial Public Offering (IPO) may be defined as the first sale of stock by a private company to the public. IPOs are often issued
Words: 2059 - Pages: 9
2, mergers and acquisitions are much more common in recent years than IPOs. Entrepreneurs that dream of an IPO and insist upon it when seeking an exit are vastly reducing their opportunities for successfully monetizing their shares. O The most popular exit strategies are: • A merger with another company, either public or private • An acquisition by another company, either public or private • An Initial Public Offering (“IPO”) whereby a private company offers its shares to the general public through
Words: 7905 - Pages: 32
