Question
8. Luther Industries is in the process of selling shares of stock in an auction IPO. At the end of the bidding period, Luther's investment
8. Luther Industries is in the process of selling shares of stock in an auction IPO. At the end of the bidding period, Luther's investment bank has received the following bids:
| Price ($) | Number of Shares Bid |
| $19.40 | 50,000 |
| $19.25 | 25,000 |
| $19.10 | 25,000 |
| $19.00 | 100,000 |
| $18.75 | 125,000 |
| $18.50 | 75,000 |
| $18.25 | 150,000 |
| $18.00 | 250,000 |
| $17.75 | 50,000 |
| $17.60 | 100,000 |
| $17.35 | 50,000 |
| $17.15 | 100,000 |
| $16.90 | 100,000 |
| $16.75 | 75,000 |
| $16.50 | 75,000 |
| $16.25 | 200,000 |
What will the offer price of these shares be if Luther is selling 1 million shares?
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Earnings Quality
Authors: Andrew P.C.
1st Edition
1521507724, 978-1521507728
