1. Assessment objective: This question assesses your understanding of the calculation of initial return and daily return and your ability to analyse and interpret the calculation results for Australian IPOs (Topics 4 & 5 Learning outcomes). Short-run IPO under-pricing is a well-known phenomenon in the US stock market. But is this phenomenon unique to US IPO firms only? In other words, does this phenomenon perhaps also exist in the Australian stock market? To answer this question, you need to investigate the short-run IPO performance of 3 IPOs in the information technology industry listed on the ASX in 2019. The three information technology IPOs are ReadyTech Holdings Limited (RDY), Damstra Holdings Limited (DTC) and iCetana Limited (ICE)