Tag: US

The enduring mystery of IPO pricing

In 2004, Google came to market with an IPO. The company took an unconventional approach to pricing. It put its offer to all investors through an open, Dutch auction. All investors, whether individuals or institutions, were asked to submit orders. The deal was then priced at exactly the level required to sell all shares at the highest possible valuation. read

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Unliking the IPO price range hunger games

HONG KONG (Dow Jones Banking Intelligence) – The Facebook IPO and its confusing messages have, once again, highlighted differences in IPO market practices between the U.S. and the rest of the world. ECM bankers in New York and the Silicon Valley could in fact take some lessons from Asian ways to send clear guidance to investors – and avoid causing IPO bubbles. read

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