Second IPOs : Do firms going back to public listing still verify the main patterns of IPOs identified by existing literature ? / Victor MALBRANCHE / 2021

Titre : Second IPOs : Do firms going back to public listing still verify the main patterns of IPOs identified by existing literature ? Type de document : Mémoire Auteurs : Victor MALBRANCHE, Auteur Année de publication : 2021 Importance : 25 p. Note générale : Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec votre compte Office 365 via le bouton CONNEXION en haut de page. Langues : Anglais (eng) Mots-clés : Management BOURSE DE COMMERCE ; INTRODUCTION EN BOURSE Résumé : Building on the wide literature existing regarding specific trends, patterns on IPOs, the aim of the paper was to measure whether relisting companies (back to public listing after having been delisted) followed these trends and characteristics. Thanks to existing comprehensive studies on IPOs, we have identified 6 main characteristics to check. After having created a sample of relisted companies, I gathered data to answer each hypothesis. We have found that our sample firms couldn’t support every hypothesis. The main finding is that these firms support the hypothesis related to underpricing, the main phenomenon observed in IPOs. Nevertheless, our sample didn’t match with some other hypothesis, especially the ones related to overperformance relative to competitors and higher dynamism in acquisitions after the IPO. In a nutshell, the sample firms couldn’t support hypothesis related to their behavior after the IPO and to their financial ratios. Programme : PGE-Rouen Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=538474