| Underpricing is an IPO phenomenon in the capital markets and have been proven by researchers in many countries. The objective of this study is to analysis of factors that influence the underpricing in the IPO’s which this is represented by underwriter reputation, company size, company age, Return on Equity (ROE) and percentage of public offering the underpricing in the IPO’s Periods 2012-2015. Data of the periods, there were 92 companies conducting Initial Public Offering (IPO) but only 78 companies experienced underpricing. The results of this study conclude that of the five independent variables such as underwriter reputation, company size, company age, ROE, and percentage of public, there are three variables that have significant influence on the level of underpricing such as company size, ROE, and percentage of public offering. While underwriter reputation, company age, there is no evidence of significantly influence the level of underpricing. |