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The initial return performance of UK property company IPOs

Winston Sahi (Department of Land Management and Development, The University of Reading, Reading, UK)
Stephen L. Lee (Department of Land Management and Development, The University of Reading, Reading, UK)

Journal of Property Investment & Finance

ISSN: 1463-578X

Article publication date: 1 April 2001

1943

Abstract

Presents empirical evidence for a sample of 48 UK property company initial public offerings over the period 1986 to 1995. Several conclusions can be drawn. First, property companies in general show a significantly positive average first day return. Second, property investment companies’ average first day return is not significantly different from zero. Third, property trading companies’ average first day return is significantly positive. Fourth, the higher average first day return of property trading companies over property investment companies is significant.

Keywords

Citation

Sahi, W. and Lee, S.L. (2001), "The initial return performance of UK property company IPOs", Journal of Property Investment & Finance, Vol. 19 No. 2, pp. 127-139. https://doi.org/10.1108/14635780110383677

Publisher

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MCB UP Ltd

Copyright © 2001, MCB UP Limited

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