IPOs go dry
Article Abstract:
Initial public offerings of computer and technology-related firms, such as Internet firm Broadcast.com, have been experiencing record highs with initial public offering (IPO) prices going from $18 to $74 on their first trading day. However, activities in all other sectors seem lackluster in comparison, with only 11 new listings at the SEC by June 1998 from 86 IPOs in August 1997. The prospect of low IPO prices has caused firms, such as ISE Labs and Time Warner Telecom, to reconsider going ahead with their scheduled public offerings.
Publication Name: Treasury & Risk Management
Subject: Business
ISSN: 1067-0432
Year: 1998
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Spinning probes raise sensitive issues
Article Abstract:
The Securities and Exchange Commission is investigating the practice of allocating shares while underwriting initial public offerings (IPOs). Called spinning, the practice raises conflict of interest issues. Opponents claim treasurers can be swayed by anticipation of personal financial benefits, and may result in systematic undervaluing of IPOs.
Publication Name: Treasury & Risk Management
Subject: Business
ISSN: 1067-0432
Year: 1998
User Contributions:
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