New Issues Puzzle: Experience from Karachi Stock Exchange

Henna Malik, Malik Muhammad Shehr Yar and Attiya Javid

Working Papers from eSocialSciences

Abstract: Study finds that both groups of IPOs outperforms on first trading day, as average initial market adjusted returns of SOE and non-SOE IPOs are 27.65 percent and 22.53 percent respectively.

Keywords: Initial public offering; underpricing; aftermarket performance; non-state owned firms; state owned enterprises; capital structure; long-term capital; private company; investment; bankers. (search for similar items in EconPapers)
Date: 2017-10
Note: Institutional Papers
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