Underpricing and the New Issue Process in Singapore
The new issue process in Singapore is examined and evidence for underpricing is presented. Underpricing will reduce revenues when the Singapore government privatizes its companies and statutory boards. Solutions are proposed to ameliorate the underpricing problem. These solutions relate to the merchant banking arrangements by which companies are brought public; the allocation procedures of new issues; and the means through which the purchase of new shares are funded.
Journal of Banking and Finance
Saunders, Anthony and LIM, Young Sain, Joseph.
Underpricing and the New Issue Process in Singapore. (1990). Journal of Banking and Finance. 2-3, (2-3), 291-309. Research Collection Lee Kong Chian School Of Business.
Available at: http://ink.library.smu.edu.sg/lkcsb_research/1137