2. Two common statistics in IPOs are underpricing and money left on the table. Underpricing is defined
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2. Two common statistics in IPOs are underpricing and money left on the table. Underpricing is defined as percentage change between the offering price and the first-day closing price. Money left on the table is the difference between the first-day closing price and the offering price, multiplied by the number of shares offered. Calculate the underpricing and money left on the table for eBay. What does this suggest about the efficiency of the IPO process?
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Related Book For 
Financial Markets And Institutions
ISBN: 9780134519265
9th Edition
Authors: Frederic S. Mishkin, Stanley G. Eakins
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