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Google Inc wants to raise capital through issuing equities. The firm decides to issue 600,000 shares through the Dutch auction. Three investment bankers participate in
Google Inc wants to raise capital through issuing equities. The firm decides to issue 600,000 shares through the Dutch auction. Three investment bankers participate in the auction. Banker A submits her bid at $5 per share for 300,000 shares. Banker B submits her bid at $4 per share for 300,000 shares. Banker C submits her bid at $3 per share for 100,000 shares. How much is the selling price per share from this auction?
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