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  • Under Pricing

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    Batool Sahabn
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    This document is a study of underpricing, ownership, and control in initial public offerings (IPOs) of equity securities in the UK published in 1995. It examines the extent of underpricing in UK IPOs between 1980-1987 and finds substantial underpricing occurred. The study also analyzes post-IPO ownership structures and control mechanisms, finding founders often retain control through disproportionate voting rights despite reducing cash-flow ownership.

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    under-pricing ownership and control

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    under pricing

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    This document is a study of underpricing, ownership, and control in initial public offerings (IPOs) of equity securities in the UK published in 1995. It examines the extent of underpricing in UK IPOs between 1980-1987 and finds substantial underpricing occurred. The study also analyzes post-IPO ownership structures and control mechanisms, finding founders often retain control through disproportionate voting rights despite reducing cash-flow ownership.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    14 views24 pages

    Under Pricing

    Uploaded by

    Batool Sahabn
    This document is a study of underpricing, ownership, and control in initial public offerings (IPOs) of equity securities in the UK published in 1995. It examines the extent of underpricing in UK IPOs between 1980-1987 and finds substantial underpricing occurred. The study also analyzes post-IPO ownership structures and control mechanisms, finding founders often retain control through disproportionate voting rights despite reducing cash-flow ownership.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    See discussions, stats, and author profiles for this publication at: https://www.researchgate.

    net/publication/4836713

    Underpricing, Ownership and Control in Initial Public


    Offerings of Equity Securities in the UK

    Article · January 1995


    Source: RePEc

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    136 490

    2 authors:

    Michael J. Brennan Julian Franks


    University of California, Los Angeles London Business School
    156 PUBLICATIONS   16,694 CITATIONS    109 PUBLICATIONS   6,245 CITATIONS   

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