Title: Ownership influence on IPOs degree of underpricing linked to the trading platform First North during the period 2017 - 2021. Seminar Date: August 15, 2022. Course: Independent essay work in business administration - FÖ6021, 15 credits. Authors: Kevin Brandt & Hannes Danielsson. Supervisor: Özgün Imre. Advisor: Magnus Söderberg. Keywords: IPO, First North, IPO, Underpricing, Ownership, Family Ownership, Private Equity. Purpose: The purpose is based on analyzing how the ownership relationship affected the degree of underpricing on the trading platform First North during the period 2017 - 2021, this with a focus on how family companies performed compared to PE companies after the first day of trading at a completed IPO. Methodology: The study was carried out using a quantitative method with a deductive approach when analyzing the collected data. Calculation of underpricing after a completed IPO was carried out using the statistical program SPSS Statistics. The collected data was analyzed and processed, then a regression analysis was carried out. Theoretical perspectives: The study's theoretical framework is based on previous studies and research in the subject of IPOs with a focus on ownership in the Swedish and global stock market. Empirical data: Compilation of the price development after the first trading day after a completed IPO for 194 listed companies on the trading platform First North. A comparison was made against the index First North All-Share SEK to find trends and patterns. Conclusion: In the study's sample of 194 IPOs on the Swedish trading platform First North between 2017 and 2021, a significant relationship between the degree of underpricing and industry affiliation is demonstrated. The result shows that the ownership relationship had a small impact on the price development after the first trading day and that the control variable index had an important role in demonstrating a significant relationship between the dependent variable underpricing and the independent variable industry

The private companies are to a large extent accountable for the residential construction. Plan monopoly means however that it is the municipality that determine land use. This can lead to uncertainty among the companies, which could mean inertia in the development of housing. Furthermore is this problematic because there already is a shortage of housing in Sweden. This thesis aims to explain companies’ thoughts when choosing land to purchase based on current zoning plan and ownership. Representatives from different companies were interviewed in order to clarify their thoughts. When investigating ownership this work has focused on whether the owner is municipal or private. The interviewed have been asked if they prefer acquiring land with a finished plan or land in the early stages of planning. Furthermore participation in the development of zoning has been treated. In these respects, a comparison between large, medium and small companies has been made. The result of the study show that the small companies focus on land with zoning plan and owned by the municipally. The medium and large companies prefer land that is not yet planned and the owner of the land varied. Acquisition of land is a complex process that is influenced by a variety of factors. It is therefore difficult to determine how much a specific factor affects the choice of land to purchase. The study has shown that the municipality's work procedure and in which municipality the land is located greatly affects the choice. / Idag ansvarar främst privata aktörer för bostadsbyggandet. Planmonopolet innebär emellertid att det är kommunen som bestämmer markanvändningen, vilket kan leda till osäkerhet hos aktörerna och innebära en tröghet i framtagandet av bostäder. Detta är problematiskt då det redan finns en bostadsbrist i Sverige. Examensarbetet syftar till att redogöra aktörers tankar vid markförvärv för bostadsbyggande, baserat på rådande detaljplaneförhållande och ägarförhållande. Representanter från byggbolag har intervjuats för att redogöra detta. Vad gäller ägarförhållande har detta arbete fokuserat på om aktörerna inriktar sig på kommunal eller privatägd mark. Företagsrepresentanterna har fått besvara frågan om bolagen förvärvar mark med en färdig detaljplan eller om de hellre köper mark i ett tidigt skede av planläggningen. Även deltagandet i framtagningen av detaljplan har behandlats. I dessa hänseenden har en jämförelse mellan stora, medelstora och små företag gjorts. Studiens resultat visar att de små aktörerna i större utsträckning köper mark som redan är detaljplanelagd och kommunalt ägd. Hos de stora och medelstora var det en stor spridning på vilket ägandeförhållande som rådde och den mest attraktiva marken, utvecklingsmässigt, var den som ej var detaljplanelagd än. Förvärv av mark är en komplex process som påverkas av en mängd olika faktorer. Det är därför svårt att fastställa hur mycket en specifik faktor påverkar val av mark. I studien har det visat sig att hur kommunen väljer att sälja marken samt i vilken kommun marken ligger i påverkar detta val i hög grad.