Hannaford Industries has 100 million of common stock shares outstanding and is planning a 10 million shares SEO. At the time of announcement, Hannaford stock was $20 per share. Of these 10 million shares sold: 8 million shares are shares being sold by Hannaford and the remaining shares are sold by original investors in Hannaford (venture capitalists). Underwriters charge is expected to be 3% of the gross proceeds. How much money will Hannaford raise?

In real market conditions: a) will HI raise more or less to your answer above?; b) likely time to implement/execute this SEO? Explain briefly.