The performance of initial public offerings on the JSE

This study examined the performance 60 initial public offerings listing on the JSE main board between 1 January 2000 and 31 December 2011. Significant underpricing of 10.1% and 8.5% was found to exist on the first day and during first week subsequent to the IPO. Underperformance of 14.17% was found using abnormal returns and 12.91% underperformance was found when holding period returns were calculated one year after the IPO.

Grantor dc:publisher.institution

Department of Finance and Tax

Year dc:date.issued

2012

Author dc:creator

• Govindjee, Heetal

Advisor dc:contributor.advisor

• Holman, Glen

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/11427/12071

OAI identifier oai:identifier

oai:open.uct.ac.za:11427/12071