ABC Ltd issues a $25 million IPO providing proceeds to ABC of $4.5 per share, from an offer price to the public of $5 per share. The company's legal fees, ASIC registration fees, and other administrative costs are $414,000. The company's share price increases 14 per cent on the first day. What is the underwriting cost? (in millions of dollars to the nearest three decimal places; don't use the $ sign eg 7.897) Answer: ABC Ltd issues a $25 million IPO providing proceeds to ABC of $4.5 per share, from an offer price to the public of $5 per share. The company's legal fees, ASIC registration fees, and other administrative costs are $414,000. The company's share price increases 14 per cent on the first day. What is the underwriting cost? (in millions of dollars to the nearest three decimal places; don't use the $ sign eg 7.897)