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The initial return performance of UK property company IPOs

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Sahi, W. and Lee, S. L. (1999) The initial return performance of UK property company IPOs. Working Papers in Land Management & Development. 05/99. Working Paper. University of Reading, Reading. pp13.

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Abstract/Summary

This paper presents empirical evidence for a sample of 48 UK property company initial public offerings over the period 1986 to 1995. From which a number of conclusions can be drawn. First, property companies in general show positive average first day returns. Second, the average first day return by property trading companies is significantly higher than that for property investment companies

Item Type:Report (Working Paper)
Divisions:Henley Business School > Real Estate and Planning
ID Code:27243
Publisher:University of Reading
Publisher Statement:The copyright of each working paper remains with the author. If you wish to quote from or cite any paper please contact the appropriate author; in some cases a more recent version of the paper may have been published elsewhere.
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