A brief study by Thomson Reuters examines the initial public offerings (IPOs) listed on the Australian Securities Exchange (ASX) that took place over an extended period of time.
The ‘IPOs on the ASX between 1999 to 2021 – a brief study’ compares the financial market activity and average price returns during the first two years of the pandemic to normal market activity. The 2007 Global Financial Crisis and 2001 Dot-com Bubble burst are also examined.
Why examine IPO capital raisings?
Researching this type of financial activity provides insight on historical trends. Trends may occur over time and any correlation to past major financial market and global events. These observations could then be applied to the current or future state of the financial market.
“What effect did the burst of the Dot-com Bubble in 2001 and the Global Financial Crisis (GFC) in 2007 and 2008 have on IPO capital raisings? Has COVID-19 affected IPO capital raisings in a similar way? These are the kinds of insights that can be observed from this report.”
Andrew Curtis, Product Specialist & Trainer – Connect 4, Thomson Reuters
Key scenarios put to the test
We have pulled together all announced initial public offerings and whether they are listed or have been withdrawn. These were examined using three scenarios with the average percentage first and 90 day closing price difference to the price of:
- All Listed IPOs
- ‘All Listed IPOs less Private Equity and Vendor Selldown IPOs’ versus ‘Private Equity and Vendor Selldown IPOs’
- Underwritten versus non-underwritten
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Disclaimer: This study is not financial or investment advice.
