Lessons From The Ipo Flasco

Several high-profile issues have been pulled and the biggest one is quoting below its issue price. What should you make of the IPO market? Debashis Basu analyses

Until early January 2008, initial public offerings (IPOs) were the path to a fast buck. You filled the application form, got your allotment and, on the day of listing, you sold, making a neat 50%-100% return, sometimes more....

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