A Theory of IPO Pricing using Tender Prices
Initial Public Offerings (IPOs) are an integral part of market capitalization, and the pricing of such offerings have been theorized considerably. New methods of IPOs often bring new insights to existing theories. This paper studies a new form of IPO with French tenders, and proposes an information...
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Institutional Knowledge at Singapore Management University
1999
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sg-smu-ink.lkcsb_research-32652010-09-23T12:30:04Z A Theory of IPO Pricing using Tender Prices Lim, Kian Guan Ng, Edward H. K. Initial Public Offerings (IPOs) are an integral part of market capitalization, and the pricing of such offerings have been theorized considerably. New methods of IPOs often bring new insights to existing theories. This paper studies a new form of IPO with French tenders, and proposes an information theory to explain the strike price and the listing price premia. An outcome of the model is that it shows how informed investors' excess returns in traditional IPOs may be dissipated under competitive French tendering. [ABSTRACT FROM AUTHOR] 1999-01-01T08:00:00Z text https://ink.library.smu.edu.sg/lkcsb_research/2266 info:doi/10.1080/096031099332096 https://doi.org/10.1080/096031099332096 Research Collection Lee Kong Chian School Of Business eng Institutional Knowledge at Singapore Management University Finance and Financial Management Portfolio and Security Analysis |
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SMU Libraries |
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Asia |
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Finance and Financial Management Portfolio and Security Analysis |
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Finance and Financial Management Portfolio and Security Analysis Lim, Kian Guan Ng, Edward H. K. A Theory of IPO Pricing using Tender Prices |
| description |
Initial Public Offerings (IPOs) are an integral part of market capitalization, and the pricing of such offerings have been theorized considerably. New methods of IPOs often bring new insights to existing theories. This paper studies a new form of IPO with French tenders, and proposes an information theory to explain the strike price and the listing price premia. An outcome of the model is that it shows how informed investors' excess returns in traditional IPOs may be dissipated under competitive French tendering. [ABSTRACT FROM AUTHOR] |
| format |
text |
| author |
Lim, Kian Guan Ng, Edward H. K. |
| author_facet |
Lim, Kian Guan Ng, Edward H. K. |
| author_sort |
Lim, Kian Guan |
| title |
A Theory of IPO Pricing using Tender Prices |
| title_short |
A Theory of IPO Pricing using Tender Prices |
| title_full |
A Theory of IPO Pricing using Tender Prices |
| title_fullStr |
A Theory of IPO Pricing using Tender Prices |
| title_full_unstemmed |
A Theory of IPO Pricing using Tender Prices |
| title_sort |
theory of ipo pricing using tender prices |
| publisher |
Institutional Knowledge at Singapore Management University |
| publishDate |
1999 |
| url |
https://ink.library.smu.edu.sg/lkcsb_research/2266 https://doi.org/10.1080/096031099332096 |
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1770570189864173568 |