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REN Fei, LI Jin-lin. Study on the Underpricing in Chinese IPOs MarketJ. Journal of Beijing Institute of Technology (Social Sciences Edition), 2006, (3): 37-40.
Citation: REN Fei, LI Jin-lin. Study on the Underpricing in Chinese IPOs MarketJ. Journal of Beijing Institute of Technology (Social Sciences Edition), 2006, (3): 37-40.
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Study on the Underpricing in Chinese IPOs Market

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  • This study on the underpricing of Chinese A shares IPOs samples data from 1,007 listed stocks on the Shanghai and Shenzhen exchange markets.It is found that the underpricing is 147%,which can be partially explained with asymmetric information.If very low lottery rate and capital cost is into consideration,investors will not obtain excess return,there is also adverse selection in IPOs.
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