Title

Underpricing and the New Issue Process in Singapore

Publication Type

Journal Article

Publication Date

8-1990

Abstract

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.

Discipline

Business

Research Areas

Finance

Publication

Journal of Banking and Finance

Volume

2-3

Issue

2-3

First Page

291

Last Page

309

ISSN

0378-4266

Identifier

10.1016/0378-4266(90)90051-3

Publisher

Elsevier