Underpricing of initial public offerings in Bangladesh
Tanweer Hasan and
Applied Financial Economics Letters, 2008, vol. 4, issue 1, 5-8
The present study provides a comprehensive analysis of the short-run underpricing of initial public offerings (IPO) in Bangladesh and attempts to identify the factors which contribute to such underpricing in this heavily regulated underwriting market. Using a sample of 90 IPOs issued during the short-lived stock market boom in the mid-nineties, we show that increased ownership stake and foreign participation lowers the magnitude of underpricing.
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