Abstract
When a firm makes an initial public offering (IPO) and qualifies for listing, it negotiates and determines a price with its underwriters for the public sale of its shares to specific or non-specific investors. This paper elaborates the theory of IPO price suppression through literature review and analysis, and also summarizes the IPO pricing mechanism. It helps to provide guidelines for the study of IPO pricing in China under the registration system environment and assists the regulators to further improve the relevant regulations.
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