This article builds on an earlier study by Choi and Nam (1998) on the initial price performance of Public Sector Initial Public Offerings PIPOs in 30 countries. They report that, in general, PIPOs are more underpriced than private sector IPOs. Our study of the Australian market suggests the...

This paper considers the post‐listing returns performance of government‐issued Initial Public Offerings (IPOs) in Australia during the period 1989 to 1998. While several studies have considered the performance of government IPOs, most of their attention has been focused on the immediate...