Underpricing on initial public offerings: further evidence from the JSE

This paper provides evidence of the existence of IPO underpricing on the JSE between 2000 and 2008. Average underpricing over the period was found to be 17.1 percent (median: 9.4 percent). In line with the general global decline in first day returns following the end of the internet bubble period, average underpricing on the JSE has decreased relative to previous studies.

Grantor dc:publisher.institution

Department of Finance and Tax

Year dc:date.issued

2011

Author dc:creator

• Muller, Michael

Advisor dc:contributor.advisor

• Correia, Carlos

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/11427/11056

OAI identifier oai:identifier

oai:open.uct.ac.za:11427/11056