3. More on the IPO process Aa Aa The IPO process involves several entities, such as the issuing company, institutional investors, brokers, lawyers, regulators, retail investors, and an intermediary company. Consider the following IPO deal: On August 10, 2012, Manchester United PLC (MANU), a professional soccer team in the English Premier League, went public with the sale of 16,666,667 shares of Class A ordinary common shares for $14 per share. The sale, which raised $233,333,338, was led by the Jeffries Group, Inc. and conducted with assistance from Credit Suisse Group AG and JP Morgan. A variety of other banks across the world participated in the sale by offering shares to their customers Beginning on August 9, 2012, and running for two weeks, roadshows were conducted in the United States by one management team and across Europe and Asia by a second team of MANU executives. What was the purpose of the roadshows conducted by MANU's management and its investment bankers? O To meet with investment bankers and negotiate the terms of the offering. To create and identify prospective investors and the number of shares they are willing to purchase at the issue's range of offering prices