Underpricing and the New Issue Process in Singapore
The new issue process in Singapore is examined and evidence for underpricing is presented. Underpricing will reduce revenues when the Singapore government privatizes its companies and statutory boards. Solutions are proposed to ameliorate the underpricing problem. These solutions relate to the merch...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
1990
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/1137 https://doi.org/10.1016/0378-4266(90)90051-3 |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | The new issue process in Singapore is examined and evidence for underpricing is presented. Underpricing will reduce revenues when the Singapore government privatizes its companies and statutory boards. Solutions are proposed to ameliorate the underpricing problem. These solutions relate to the merchant banking arrangements by which companies are brought public; the allocation procedures of new issues; and the means through which the purchase of new shares are funded. |
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