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CrossRidge went public recently and used the Dutch auction to set the offer price for 50 million shares. The following table gives the bidding. The
- CrossRidge went public recently and used the Dutch auction to set the offer price for 50 million shares. The following table gives the bidding. The stock traded at $34 at the end of trading on the first day. What is the percent underpricing?
| Bidder | Price ($) | Number of Shares (millions) |
| B1 | 32 | 10 |
| B2 | 30 | 20 |
| B3 | 25 | 25 |
| B4 | 18 | 50 |
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Elementary Statistics
Authors: Mario F. Triola
14th Edition
0136803202, 978-0136803201
