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In April 2 0 1 9 , Van Dyck Exponents offered 2 2 0 shares for sale in an IPO. Half of the shares were
In April Van Dyck Exponents offered shares for sale in an IPO. Half of the shares were sold by the company and the other
half by existing shareholders, each of whom sold exactly half of their existing holding. The offering price to the public was $ and the
underwriters received a spread of The issue was heavily oversubscribed and on the first day of trading the stock price rose to
$
a What were the proceeds of the issue to the company?
a What were the proceeds of the issue to the shareholders?
b How much commission did the underwriters receive?
c How much money was left on the table?
d What was the cost of the underpricing to the selling shareholders?
For all requirements, do not round intermediate calculations. Round your answers to the nearest whole dollar amount.
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