The underpricing of initial public offerings: Some UK evidence

K Keasey and H Short

Omega, 1992, vol. 20, issue 4, 457-466

Abstract: The existence of underpricing of initial public offerings (IPO's) has been the subject of much debate in the finance literature. The purpose of this paper is to determine the extent to which the level of underpricing of IPO's on the UK Unlisted Securities Market (USM) can be explained by factors related to the level of ex ante uncertainty surrounding IPO's. The results of the paper indicate that the level of underpricing of IPO's on the USM is found to be significantly related to only a few of the factors designed to capture ex ante uncertainty.

Keywords: underpricing; initial; public; offerings (search for similar items in EconPapers)
Date: 1992
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Citations: View citations in EconPapers (11)

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