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Characteristics and underpricing of Australian mining and energy IPOs from 1994 to 2001

Dimovski, William and Brooks, Robert 2005, Characteristics and underpricing of Australian mining and energy IPOs from 1994 to 2001, in 3rd Financial Markets Asia-Pacific Conference 2005, Australasian Finance Group, Sydney, N.S.W., pp. 1-17.

Document type: Conference Paper
Collections: School of Accounting, Economics and Finance
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Title Characteristics and underpricing of Australian mining and energy IPOs from 1994 to 2001
Author(s) Dimovski, William
Brooks, Robert
Conference name Financial Markets Asia-Pacific Conference (3rd : 2005 : Sydney, Australia)
Conference location Sydney, New South Wales
Conference dates 26-27 May 2005
Title of proceedings 3rd Financial Markets Asia-Pacific Conference 2005
Editor(s) Daly, Kevin
Publication date 2005
Conference series Financial Markets Asia-Pacific Conference
Start page 1
End page 17
Publisher Australasian Finance Group
Place of publication Sydney, N.S.W.
Keyword(s) IPOs
underpricing
mining
resources
energy
Summary This paper follows How (2000) who examined 130 Australian mining and energy initial public offerings (IPOs) from 1979 to 1990 to report an average 107.18 % underpricing return by those IPOs. This study updates that report by investigating 127 Australian mining and energy IPOs from 1994 to 2001 to find a substantially lower 17.93 % average first day return. These updated findings have implications for both new companies seeking to float and also for the subscribers wishing to invest in these new listings.
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ISBN 0646448439
9780646448435
Language eng
Field of Research 150201 Finance
Socio Economic Objective 970115 Expanding Knowledge in Commerce, Management, Tourism and Services
HERDC Research category E1 Full written paper - refereed
ERA Research output type E Conference publication
Copyright notice ©2005, Australasian Finance Group
Persistent URL http://hdl.handle.net/10536/DRO/DU:30005580
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