Telor Ophthalmic is second quarter's sole IPO

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Is the IPO Pricing Process Efficient?

This paper investigates underwriters’ treatment of public information throughout the IPO pricing process. Two key findings emerge. First, public information is not fully incorporated into the initial price range. While the economic magnitude of the bias is small, it is puzzling because it is not clear who benefits from it. Further, it indicates that the filing range midpoint is not an unbiased ...

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ژورنال

عنوان ژورنال: Nature Biotechnology

سال: 1993

ISSN: 1087-0156,1546-1696

DOI: 10.1038/nbt0993-982a