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Undervaluation is a phenomenon that can result from the determination of the price of shares offered during an IPO. Thus, the price of the shares issued is set at a lower price than what the market is willing to pay. As a result, this undervaluation leads to a high positive initial return from the first days of listing of the shares issued on the financial market. This work aims to understand the reasons for such a phenomenon through empirical studies conducted on the subject. In addition, it aims to answer the following question: "To what extent can the shares of companies going public be undervalued ? ». This work will also attempt to detect the phenomenon of undervaluation and explain its causes through a practical analysis of a number of companies listed on the regulated market Euronext Brussels.

IPO --- Initial Public Offering --- Undervaluation --- Sous-évaluation --- Introduction en Bourse --- Sciences économiques & de gestion > Finance