New Issues Puzzle: Experience from Karachi Stock Exchange
Malik Muhammad Shehr Yar and
Attiya Yasmin Javid
Working Papers from eSocialSciences
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)
Note: Institutional Papers
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