IDEAS home Printed from https://ideas.repec.org/p/oxf/wpaper/2008fe19.html
   My bibliography  Save this paper

Public or private equity? How accelerated IPOs can increase competition in offerings

Author

Listed:
  • Tim Jenkinson

Abstract

This clinical paper analyses a new way of conducting IPOs which has recently been introduced in the U.K. The essential feature of Accelerated IPOs (aIPOs) is that investors from syndicates to bid for the entire offering, and then execute an immediate IPO (within a week). Vendors can use an auction to determine whether the valuation is higher in private equity, trade, or public equity hands. aIPOs address two problems that regulators and academics have associated with conventional IPOs conducted via bookbuilding: inaccurate valuation and questionable use of discretion over allocation. Conflicts of interest are avoided as the advisors who organise aIPOs work for the investors rather than the issuing company.

Suggested Citation

  • Tim Jenkinson, 2008. "Public or private equity? How accelerated IPOs can increase competition in offerings," Economics Series Working Papers 2008fe19, University of Oxford, Department of Economics.
    • Handle: RePEc:oxf:wpaper:2008fe19
    as

    Download full text from publisher

    File URL: https://ora.ox.ac.uk/objects/uuid:f70108de-768c-4c9a-8b4c-be99f82a1f4d
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    Keywords

    Initial Public Offerings; Private Equity; Auctions;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oxf:wpaper:2008fe19. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Anne Pouliquen (email available below). General contact details of provider: https://edirc.repec.org/data/sfeixuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.