Significance of Board of Listing And Type of Issue on the Under-Pricing and After-Market Performance of Malaysian IPOs
DOI:
https://doi.org/10.66674/ed2k7e47Abstract
presents the short-term and long-term performances of all new issues listed on both the ‘and the Second Board of the Kuala Lumpur Stock Exchange (KLSE) from 1991 to 1995. this study finds an average initial return and an average over-subscription ratio which ally lower than the ones reported by the previous studies. Furthermore, we find that coefficients between initial returns and over-subscription ratios are significant, especially issue of type 2, offer for sale. We also find that initial returns are significantly greater than tive longer-term returns, and there is no significant difference in the initial returns among of issue compared. Finally, in general, we find that the mean initial return has no significant with the average annual return over the longer-term periods.
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Copyright (c) 1999 Othman Yong, Puan Yatim, Ros Zam Zam Sapian (Author)
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Authors retain copyright and grant Capital Markets Review the right of first publication. Articles are published under the Creative Commons Attribution 4.0 International (CC BY 4.0) licence: https://creativecommons.org/licenses/by/4.0/. This licence permits sharing and adaptation for any purpose, including commercial use, provided appropriate credit is given, a link to the licence is supplied and any changes are indicated. Third-party material excluded from the article's licence must be clearly identified, and authors are responsible for obtaining any required permission.
