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n Investment Analysts Journal - Aftermarket price performance of initial public offerings on the JSE

Volume 2002, Issue 55
  • ISSN : 1029-3523
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Abstract

Extracted from text ... Number 55 - Part 1 C M'kombe and M Ward Aftermarket price performance of initial public offerings on the JSE 1. Introduction* The objective of any initial public offering (IPO) is to achieve the highest value for the issuer while ensuring a buoyant start to secondary trading and strong long-term (aftermarket) performance. A share is underpriced if its offer price at the IPO is lower than the closing price on the first day of trade. The problem of underpricing has been extensively researched and clearly indicates some loss of value to the issuer. However, underpricing can act as a positive ..

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/content/invest/2002/55/EJC46743
2002-01-01
2016-12-09

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