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Hilton Worldwide Holdings, Inc. completed an initial public offering on December 12, 2013. The offer price was $20.00 per share and the closing price at

Hilton Worldwide Holdings, Inc. completed an initial public offering on December 12, 2013. The offer price was $20.00 per share and the closing price at the end of the first day was $21.50. The firm issued 117.6 million shares. What was the loss to Hilton due to underpricing?

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