Initial public offerings and listing costs: is there a difference between venture and non venture capital Ipos?

Antonio Meles
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Antonio Meles: Università degli Studi di Napoli «Parthenope»

BANCARIA, 2009, vol. 10, 33-46

Abstract: Are private equity investors able to reduce the overall costs of going public? This hypothesis was tested, for the Italian market, on a sample of 155 Ipos (54 Vb and 101 Nvb) during the period 1999-2007. For each company we estimated the direct and indirect costs of listing. The main results are consistent with the hypothesis because total costs of going public are lower for Vb compared to Nvb.

Keywords: venture capital; private equity; Ipo; costi di quotazione; underpricing. (search for similar items in EconPapers)
JEL-codes: G23 G24 G32 G34 (search for similar items in EconPapers)
Date: 2009
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