Rationale behind IPO underpricing: evidence from Asian REIT IPOs

This article examines the rationale behind IPO underpricing using a sample of REIT IPOs in Asia. Although the IPOs registered an average initial return of 3.08%, the issuers were able to sell the IPO shares above their fundamental values by timing the listings in periods when existing REIT stocks ar...

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Bibliographic Details
Main Authors: Ooi, Joseph T.L., Mori, Masaki, Wong, Woei Chyuan
Format: Article
Language:English
Published: John Wiley & Sons, Inc. 2018
Subjects:
Online Access:http://repo.uum.edu.my/25636/1/Ooi_et_al-2019-Real_Estate_Economics.pdf
http://repo.uum.edu.my/25636/
http://doi.org/10.1111/1540-6229.12243
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