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ABC Ltd, a high-technology company, issues a $14 million IPO with an offer price of $6 per share, underwritten at $5.64 per share. The company's
ABC Ltd, a high-technology company, issues a $14 million IPO with an offer price of $6 per share, underwritten at $5.64 per share. The company's legal fees, ASIC registration fees, and other administrative costs are $351,000. The company's share price increases by $0.9 on the first day. What is the company's total cost of issuing the securities (in millions of dollars to three decimal places; dont use $ sign eg $4.5766 million is 4.577)? (Remember to round the number of shares issued to a whole number).
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