Introduction: Within the financial market where there is a trading place for securities, IPO is a well discussed topic. The fascination lies on the introduction of a company on the stock market that was earlier privately-owned and its return on the share. Furthermore the pricing of the shares and the timing for listings are interesting aspects that have been studied many years back. Hence, this essay will examine how the share prices for the listing companies have developed through different economic growth.

Purpose: The purpose is to examine if the economic situation affects the share prices outcome during a listing and moreover, to see how they have developed on the listing day and 30 days after the listing.

Method: By comparing the calculations of the introduction prices to the closing prices on the listing day and 30 days after the listing, this essay will examine the share prices development that occurs.

Theoretical framework: The efficient market hypothesis and the signaling theory.

Results: The results of the examination showed that the difference between companies is very small, regardless of the economic growth at the time they got listed. Companies that got listed during a higher economic growth had only a 0.1 % higher return than companies that got listed during a lower economic growth, which suggests that the economic situation does not affect the listings significantly.