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IPO balloting demand: keep it real

While some bankers argue that disclosing the total indications of interest adds colour to a deal, it's potentially misleading to investors

AS much as bankers like to broadcast how many times oversubscribed their initial public offerings (IPOs) are, they also know that these numbers get far more attention than they deserve.

Today, there is no consistency in how IPO subscription rates are reported. After the close of an IPO...

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