The pricing of equity offerings (original) (raw)

of I.600 seasoned equity offerings reveals little evidence that underwriters systematically set other prices below the market price on the major exchanges. though they may do so for NASDAQ issues. Quick round-trip transactions in seasoned otferings are not prohtable. but subscribing to an offering and holding the stock for 30 days seems to be yen: profitable. especially in the NASDAQ market. In addition to seasoned offerings. we analyze 150 issues of new classes of preferred stock. These issues are not underpriced.