Australian government sector initial public offerings

Stephen Easton and Sean Pinder

Applied Economics Letters, 1996, vol. 3, issue 9, 603-605

Abstract: The paper examines the initial pricing of all Australian government sector initial public offerings (IPOs) that have been made over the last six years. A statistically significant first-day average abnormal return of approximately 8% is found. Contrary to overseas findings, there is no evidence that these government sector IPOs were more underpriced than Australian private sector IPOs.

Date: 1996
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DOI: 10.1080/135048596356050

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