Dubai Taxi Company was founded in $1995$ and has a fleet of about $7,000$ vehicles that service a growing population. It is the biggest taxi operator in the emirate and currently holds about $44$ per cent market share. About $96$ million journeys were made on Dubai's fleet of taxis in the first half of this year $$ with hybrid vehicles accounting for more $70$ per cent of the cars in service. Dubai Taxi is one of the state owned companies that are offering IPO to increase the size of financial markets in the emirates. The company's IPO offer price is AED $1\mathrm{.}85$ and the company planned to issue $624\mathrm{.}75$ million shares. The IPO issue date is $6$th December $2023.$ The IPO trading price at the close of the secondary market on $6$th December is AED $2\mathrm{.}20.$ Your friend has invested in the IPO. Do you think the increase in share price is good choice for your friend. If yes, Why? If no$,$ Why? Is the increase in share price good for Dubai Taxi? Will the increase lead to increase in the capital collected by the Dubai Taxi? If$,$ yes, Why? If no$,$ Why? Also elaborate on the reasons for the increase in price of most IPO's at the time of issue?

If Dubai Taxi also issue bonds along with IPO shares, would you suggest your friend to invest in bonds or IPO shares by discussing the risk return attributes of both investments? Please elaborate whether your friend's decision will be effected by your friend's risk preferences such as risk seeker, risk averse or risk neutral investor? Lastly, please elaborate for each of the three yield curve types $($normal$,$ inverted and flat yield curve$)$ would Dubai Taxi issue long term bonds or short term bonds? For each of the three yield curve types, would your friend invest in long$-$term or short term bonds?