Dimovski, William; Brooks, Robert; Eekelen, Antonie van - In: Applied Financial Economics Letters 3 (2007) 5, pp. 295-299
This article reports on some of the direct costs of raising equity capital by closed-end fund licensed investment company (LIC) initial public offerings (IPOs) in Australia from 1995 to 2005. The amount of underpricing by these IPOs is also identified. The average total direct costs amounted to...