Factors influencing money left on the table by property trust IPO issuers

Dimovski, William and Brooks, Robert 2006, Factors influencing money left on the table by property trust IPO issuers, Journal of property research, vol. 23, no. 3, pp. 269-280.

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Title Factors influencing money left on the table by property trust IPO issuers
Author(s) Dimovski, William
Brooks, Robert
Journal name Journal of property research
Volume number 23
Issue number 3
Start page 269
End page 280
Publisher Routledge
Place of publication London, England
Publication date 2006
ISSN 0959-9916
1466-4453
Keyword(s) property trusts
initial public offerings (IPO)
money left
Australia
stock markets
Summary While previous listed property trust (LPT) initial public offering (IPO) studies have identified low under pricing returns, this study specifically examines the amount of money left on the table by the pre-IPO owners in this category of IPO. This study investigates 58 property trust IPOs in Australia from 1994 to 2004 and finds that the amount of money left by LPT IPOs is considerably less than industrial company IPOs, implying considerably less uncertainty about the valuation of such IPOs compared to industrials. We also find that more recent (post 2000) LPT IPOs in Australia appear to be significantly different to previous LPT IPOs in both money left and under pricing terms.
Language eng
Field of Research 150201 Finance
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2006, Taylor & Francis
Persistent URL http://hdl.handle.net/10536/DRO/DU:30003552

Document type: Journal Article
Collection: School of Architecture and Built Environment
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