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Underpricing in the Malaysian IPO Market During 2009-2014

Nibu Raj Abraham
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Nibu Raj Abraham: Viswajyothi College of Engineering and Technology, India

Journal of Applied Management and Investments, 2015, vol. 4, issue 4, 194-200

Abstract: The paper analyses the extent of underpricing that exists in the Malaysian IPO market. 114 IPOs issued during 2009 to 2014 at Malaysian market has been used for the study. The findings of this study substantiate the presence of underpricing in Malaysian IPO market. The empiricial results suggest that the investors, who put their money in IPOs, are earning an average of 23.45% return on the listing day. However, the extent of underpricing that exists in the Malaysian market is very small compared to other markets around the world.

Keywords: underpricing; initial public offer; market adjusted abnormal return (search for similar items in EconPapers)
Date: 2015
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Handle: RePEc:ods:journl:v:4:y:2015:i:4:p:194-200