Lockup expiration and share price effect in Malaysian IPOs

• Main Authors: Mohamed Arshad, Shamsul Bahrain, Taufil Mohd, Kamarun Nisham, Ahmad Zaluki, Nurwati Ashikkin, Abdullah, Fikriyah
• Format: Conference or Workshop Item
• Language: English
• Published: 2015
• Subjects: HB Economic Theory
• Online Access: https://repo.uum.edu.my/id/eprint/31070/1/SAES%2001%202015%2001-06.pdf; https://repo.uum.edu.my/id/eprint/31070/; https://sefb.uum.edu.my/ecofi/links
• Institution: Universiti Utara Malaysia

This paper examines the effect of IPO lockup expiration on share prices for the period of 21 days surrounding the event date. The sample consists of 292 IPOs listed on Bursa Malaysia between May 2003 and December 2012. Lockup in Malaysia is mandatory as opposed to voluntary where it is negotiated be...