Aussenegg, Wolfgang; Pichler, Pegaret; Stomper, Alex - In: Journal of Financial and Quantitative Analysis 41 (2006) 04, pp. 829-862
We study IPO pricing in Germany to determine whether when-issued trading provides information that is useful for setting IPO offer prices, and whether such trading supplants bookbuilding as a source of information. We find that when-issued trading reveals relevant information for pricing IPOs,...
