Most recent IPOs have carefully timed the release of their prospectuses.

These prospectuses disclosed financial results that are extremely rosy, thus enabling the promoters to sell their shares at a high price.

Their financial health are actually on the verge of a major decline which the promoters are fully aware of; but only unbeknownst to the investing public.

The disappointing financial results will be released after the close of the IPOs. Such poor financial results always ended up with the share prices going under water on listing day, hence trapping in all unsuspecting investing public and causing them huge financial losses.

Are the unsuspecting investing public being "scammed" ?

Some promoters are quick to blame market conditions for the poor price performance !

Perhaps the regulatory authorities need to pay some attention to this matter during the vetting stage.