Why do people rush to buy lottery? Its the same.

But not all IPO are winners.

If you are of 'certain' racial group your chances are extremely good, almost 90%-100% sure kena one...especially if you buy through MITI. These are the people who should take full advantage of the privilege given to them, like free money. 

For others is like draw lot...depend on your luck.. chance of 'kena' the lottery is like 2%-5%...

No, limited number of shares are offered to the public. If there is lots of people subscribing then, not all will get or some will get only partial to their subscription. Generally the higher number of subscription the better chance you will get at least a partial because of less subscriber at the price range. But for each subscription you have pay cash first, then if any failed, the cash will be re-credited back to your bank account in a few days. You can see the results of each IPO balloting at bursa website.

However if you are eligible for MITI and of certain racial groups, you can bypass the public balloting and subscribe under institutional portion for IPO shares. These generally have very good chance to obtain and have very high percentage of getting the shares you want.

No, you can only transfer to/from parent to child only. No transfer allowed for unrelated persons. Other arrangements (like buy/sell on your behalf) are off the books and depends on your relationship with the person, but the shares and proceeds from sale are credited in the name of the applicant, so this is risky.

Not all IPO will be sure win, but so far in Malaysia, most of them do, some have less earnings and some have more. IPO players will generally get rid of their shares within 1-2 days of the opening, to rotate money for the next IPO. If some good prospect companies they may elect to keep a small portion for long term.

Yes, that is why IPO is 'seen' as lottery... most IPO gains about 10%-30% within the first 2 days.

However there are some IPO which performs less than 10% or at worst flat. Very rare if the IPO trades below the IPO price for the first few days due to IB supporting the price, but it does happen once a while.