Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ABC Ltd, a high-technology company, issues a $15 million IPO with an offer price of $3 per share, underwritten at $2.82 per share. The company's

ABC Ltd, a high-technology company, issues a $15 million IPO with an offer price of $3 per share, underwritten at $2.82 per share. The company's legal fees, ASIC registration fees, and other administrative costs are $382,000. The company's share price increases by $0.45 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)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Freedom

Authors: Timothy Turner

1st Edition

1801573573, 978-1801573573

More Books

Students also viewed these Finance questions

Question

define what is meant by the term human resource management

Answered: 1 week ago