I'm not sure what this solves. If I know that the stock will have less competitive bidding 4 days from now, I'm waiting.
I'm a firm believer that releasing all the shares and allowing the market to decide what they'll pay for the stock, based on their own valuation method, is the most efficient method.
yes, this is the most efficient method for getting market value for something (its almost tautologous); however, thats not the problem identified. the problem is determining a fair price for the ipo so that the company being listed brings in as much cash as they should. releasing all the shares at once determines a fair price quickly, but that doesnt help the company bring in more cash
I'm a firm believer that releasing all the shares and allowing the market to decide what they'll pay for the stock, based on their own valuation method, is the most efficient method.