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| Author: | Altinkilic, O. Hansen, R. S. |
| Title: | Discounting and underpricing in seasoned equity offers |
| Journal: | Journal of Financial Economics
2003 : AUG, VOL. 69:2, p. 285-323 |
| Index terms: | Initial public offerings Banking Investments |
| Language: | eng |
| Abstract: | The surprise component of discounting, reflectng the lead bank's financial adjustment to the offer price, releases information that often causes economically large price swings on the offer day. Disparities between the issue's closing price and the price suggested in the lead bank's final order book are a primary source of information. |
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