The performance of initial public offerings on the JSE

Master Thesis

2012

Permanent link to this Item
http://hdl.handle.net/11427/12071
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thesis_com_2012_govindjee_h.pdf (1.18 MB)
Authors
Govindjee, Heetal
Supervisors
Holman, Glen
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University of Cape Town

Department
Department of Finance and Tax
Faculty
Faculty of Commerce
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Abstract
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.
Description

Includes abstract.


Includes bibliographical references.

Keywords
Financial Management

Reference:

Govindjee, H. 2012. The performance of initial public offerings on the JSE. University of Cape Town.

Collections
Masters