Advanced Search
MyIDEAS: Login to save this paper or follow this series

Public or private equity? How accelerated IPOs can increase competition in offerings

Contents:

Author Info

  • Tim Jenkinson

Abstract

This clinical paper analyses a new way of conducting IPOs which has recently been introduced in the U.K. The essential feature of Accelerated IPOs (aIPOs) is that investors form syndicates to bid for the entire offering, and then execute an immediate IPO (within a week). Vendors can use an auction to determine whether the valuation is higher in private equity, trade, or public equity hands. aIPOs address two problems that regulators and academics have associated with conventional IPOs conducted via bookbuilding: inaccurate valuation and questionable use of discretion over allocation. Conflicts of interest are avoided as the advisors who organise aIPOs work for the investors rather than the issuing company.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.finance.ox.ac.uk/file_links/finecon_papers/2008fe19.pdf
Our checks indicate that this address may not be valid because: 404 Not Found. If this is indeed the case, please notify (Maxine Collett)
Download Restriction: no

Bibliographic Info

Paper provided by Oxford Financial Research Centre in its series OFRC Working Papers Series with number 2008fe19.

as in new window
Length: 38
Date of creation: 2008
Date of revision:
Handle: RePEc:sbs:wpsefe:2008fe19

Contact details of provider:
Email:
Web page: http://www.finance.ox.ac.uk
More information through EDIRC

Related research

Keywords: Initial Public Offerings; Private Equity; Auctions;

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:sbs:wpsefe:2008fe19. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Maxine Collett).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.