Security Issuance, Institutional Investors and Quid Pro Quo: Insights from SPACs
Why is it So Costly to Go Public? The average first-day returns to investors of initial public offerings (“IPOs”) in the U.S. is 19%. These returns are even higher elsewhere, such as in China. For reference, the S&P 500 index gains only a few basis points a day on average. While a large one-day return… Read More »
