SECONDARY MARKET STABILIZATION OF IPOs
Underwriting syndicates routinely "stabilize" the secondary market price for poorly received initial public offerings. Price stabilization practices, particularly the use of "penalty bids" aimed at discouraging immediate resale or "flipping" of IPO shares, recently have triggered litigation and attracted the attention of the regulatory community. Much of the attention has focused on the allegation that a disproportionate share of the burden of price stabilization efforts is borne by individual investors. 1999 Morgan Stanley.
Year of publication: |
1999
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Authors: | Wilhelm, William J. |
Published in: |
Journal of Applied Corporate Finance. - Morgan Stanley, ISSN 1078-1196. - Vol. 12.1999, 1, p. 78-85
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Publisher: |
Morgan Stanley |
Saved in:
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