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IPO - clarification of the concept
IPO - initial public offering:
refers to the process of offering shares of a private corporation to the public in a new stock issuance. Public share issuance allows a company to raise capital from public investors.
- An initial public offering (IPO) refers to the process of offering shares of a private corporation to the public in a new stock issuance.
- Companies must meet requirements by exchanges and stock exchange supervisions as e.g. the Securities and Exchange Commission (SEC) to hold an initial public offering (IPO).
- IPOs provide companies with an opportunity to obtain capital by offering shares through the primary market.
- Typically, companies hire investment banks to market, gauge demand, set the IPO price and date, and more.
- An IPO can be seen as an exit strategy for the company’s founders and early investors, realizing the full profit from their private investment.
IPOs on the principal stock markets
The annual publication "Academic EurIPO", 2006 - d.d. describes the IPOs in Europe providing:
the academic debate on IPOs, outlook on international IPOs, offering methodology, ownership structure, and corporate governance, valuation of IPOs and pre and post listing performance.
Databases to find information about IPOs
Thomson One Banker (access via Internet Explorer)
You can find IPOs via Screening & Analysis in the Equity part.
Coverage: this part contains information of over 80.000 transactions since 1970 on IPOs and more
Screening & Analysis > Deals & League Tables > Equity > Advanced Search
Getting the data in Advanced search.
- Set the criteria of the issues: the period when the issues have taken place, the issue type (for example IPOs), the country of the company, and so forth. This results in several issues.
- Make a report with the details of these issues: the name of the company, the specific date of the issue, the offer price, the exchange etc. This report can be downloaded to Excel.
Zephyr contains information and data on mergers and acquisitions, IPOs, private equity, and venture capital deals. The database contains information on completed, pending, withdrawn, announced, and rumoured deals.
European deals from 1997 and forward; global deals from 2001 and forward.
Additional features include news, ranking, and tables about M&A activities.
Search guide: Zephyr brochure
- Create your search query by applying filters to all deals in Zephyr. For example, you might be interested in deals in a specific period, country, size, or industry.
- Select the IPOs & Capital markets tab > Deal Types > choose among more "IPO types"
- Create your report by getting information on the selected deals or the company involved.
- Export your report.
OSIRIS is a fully integrated public companies database with financial information on more than 90,000 listed and major unlisted/delisted companies worldwide.
To screen for companies by IPO Date:
- Select Stock data, then IPO date and enter your dates of interest.
- The total number of companies will appear.
- Click the orange View List of Results button at the bottom of the page to display the company names.
To find the IPO date of a specific company, search for a company name, then click the desired name from the results list. Select Stock Data from the menu to see the IPO date and other market information.
To find IPO date for companies on a stock exchange or an indice:
- Select Stock data, then Stock exchange or Indices
- then you get all the companies from e.g. a stock exchange
- choose the Add function and select IPO date as a variable
- To find the IPO date of a specific company, type the company's ticker followed by IPO <GO>
- To find IPO and Additional Offering dates for a specific company, type CACT to perform a Corporate Action Search. Change left dropdown from All Securities to Single Security. Enter company's ticker in field to the right. Adjust dates then hit Enter key, then Filter Actions to IPO/ADDL. Click on an action to access details about the offering.
- Use CACT to screen for companies by IPO/Additional Offering date. Type CACT in the command line. Leave left dropdown reflecting All Securities. Adjust date. Filter Actions to IPO/ADDL.
IPO Price via Deal Screener:
Open the Screener and then change the Universe to Deals and include Equity as Asset Class. Add IPO as Issue Type and e.g. Norway as Target Market. The you get a list of IPO results
Compustat (North America, Compustat Global)
Choose database > Fundamentals annual > search with CTRL-F: IPO date
WRDS explanation: This item is the date of a company's initial public stock offering. If the date of a company's initial public stock offering is not available, the first trading date in the major exchange is used.
According to WRDS support, it should be somewhere under this data item:
CRSP > Stock/ security files > stock header info >
The data items concerned are
Begin of stock data (in output labeled BEGDAT)
End of stock data (in output labeled ENDDAT)
Some additional complications will appear in a few cases when a firm (PERMCO) had multiple securities (PERMNOs). In those cases, you would need to take the oldest BEGDAT and the latest ENDDAT.
IPO - other resources
This page maintained by Prof. Ritter at University of Florida contains updated statistics on IPOs. Main focus is the US market.