It does not kill a coin when it list. The main problem is there are a lot of dumpers when it hits first. Sometimes if they don't see any progress or have a slow development in the project. They sell even at lose then proceed to another ico.
Dev's tactic plays an important role. Therefore, it is not absolute to be listed, but it will increase FUD. If they set up their tactics well, price will not dump a lot. But if I know we will get better results at the end, I can wait months for lisiting.