Behavioral Finance case study
Somewhere in Africa an IPO raised 90% of the funds through retail investors. This should count as a Harvard behavioral Finance case study? Usually the norm is 90% Institutions and 10% retail.
The company is a telecommunications company that was owned 100% by the government. The government then sold 50% of it's stake.
Out of the 492 Million raised, 460 Million was raised from retail investors. The company is currently doing well with the highest dividend yield, around 9% (average of 4%), and the stock price went up by 47% from the IPO date in 18 months. The population of the country is 2 million people.
The government fleeced its own people.
hahahaha.
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