AFIN8008: The Process of Raising Equity Through an Initial Public Offering (IPO) - Accounting Assignment Help

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Assignment tasks
IPO
In topic 6, you have learnt the process of raising equity through an Initial Public Offering (IPO), the associated challenge of determining the offer price, the role of the underwriters, the costs of the IPO and performance after the IPO is completed.

You are required to choose five Australian IPOs completed in 2019 (note not to choose an IPO in Mining industry or listed funds) on the Australian Securities Exchange and evaluate the performance of the IPOs including:

1) Evaluate whether the IPOs have been under-priced. Is the level of under-pricing on average consistent with that documented in research literature? Comment on the possible reasons that have caused the under-pricing/over-pricing/fair-pricing of the IPOs. You should clearly explain your measurement and calculation in Data and Methodology section.

2) Evaluate the post-IPO price performance. Is the post-IPO performance on average consistent with that documented in research literature? Comment on the factors that may explain the under-performance/out-performance. You should clearly explain the time horizon, the measurements and the benchmark of your evaluation in Data and Methodology section.

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