Profile analysis of the importance of equity financing decisions on Package IPO (PIPO) and Shares-only IPO (SIPO) in Indonesia

Dhevi, Cattetiana; Soesetio, Yuli; Octavio, Danes Quirira

doi:10.1201/9780429433382-16

Cited by 2 publications

(2 citation statements)

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“…Package IPO (PIPO) is a term given to companies that use inclusion (options or warrants) at the time of offering [6]. While a Shares-only IPO (SIPO) is a company that only uses ordinary shares in its offering [5]. How & Howe [6] summarizes some of the differences in the characteristics of IPO companies using PIPO and SIPO strategies based on agency-cost hypothesis and signaling hypothesis.…”

Section: Initial Public Offering (Ipo) Package Ipo (Pipo) and Shares-...mentioning

confidence: 99%

“…The selection of an IPO strategy is one of the determining factors for the company's success after the IPO in the future both in the short, medium, and long term. Shares-only IPO (SIPO) is an IPO strategy where the company will only sell shares at the time of the IPO [5]. SIPO is the most common and most widely used strategy by IPO companies.…”

Section: Introductionmentioning

confidence: 99%

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Does Warrant Strategy Along with IPO Provide Better Performance?

Soesetio,

Rudiningtyas,

Habibah

2023

Advances in Economics, Business and Management Research

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An Initial Public Offering (IPO) can provide limited benefits for companies in the short to medium term. This study aims to evaluate the use of the Package IPO (PIPO) and Shares-only IPO (SIPO) strategy that accompanies the IPO process of companies listed on the Indonesia Stock Exchange (IDX). The sample used in this study was all companies that carried out IPOs for the period 2010-2016 as many as 155 companies. Using Paired Sample T-test and Wilcoxon Signed Rank Test the results showed that in the short-term there was a significant difference in financial performance of leverage (DER) and working capital (CR) before and after the IPO, but only in the medium-term CR performance did not show a significant difference. Meanwhile, the use of warrant inclusion strategies provides quite diverse results. When the company uses the SIPO strategy, it shows a significant difference in the company's performance in the short-and medium-term. In contrast, the use of other strategies during IPOs in the short-and medium-term does not show a difference in performance.

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Section: Initial Public Offering (Ipo) Package Ipo (Pipo) and Shares-...mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Does Warrant Strategy Along with IPO Provide Better Performance?

Soesetio,

Rudiningtyas,

Habibah

2023

Advances in Economics, Business and Management Research

View full text Add to dashboard Cite

show abstract

Do Initial Public Offering Strategies Improve Firm's Performance? Evidence from Emerging Country

Soesetio

2024

KSS

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The firm’s decision to become a public firm is very interesting to analyze and reveal its performance. This study aims to reveal the firm’s performance in the short and medium term after conducting an initial public offering (IPO). In addition, the choice of the IPO strategy, that are share-only IPO (SIPO) or package IPO (PIPO) also affects the firm’s performance. Annual reports of up to 3 years of 155 companies conducting IPOs from 2010 to 2016 are used to examine the short-term and medium-term impacts of the IPO process. A very surprising result of this study is that IPO companies cannot show better performance in the short and medium term after the IPO, including State-Owned Enterprises (SOE), it gets worse if the company decides to use PIPO as a strategy during the IPO. Keywords: initial public offering, firm performance, share-only IPO, package IPO

show abstract

Profile analysis of the importance of equity financing decisions on Package IPO (PIPO) and Shares-only IPO (SIPO) in Indonesia

Cited by 2 publications

References 0 publications

Does Warrant Strategy Along with IPO Provide Better Performance?

Does Warrant Strategy Along with IPO Provide Better Performance?

Do Initial Public Offering Strategies Improve Firm's Performance? Evidence from Emerging Country

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