IPO stock valuation

Suppose Blume Corp. is going public and, based on the bookbuilding process, decides it will be issuing $500,000$ shares of common stock to raise capital to fund the company's proposed expansion. Suppose a Dutch auction $($an auction in which the auctioneer begins with a high asking price and lowers it until some bidder accepts the price$)$ is used to allocate shares in the Blume Corp. IPO. The following table shows the number of shares requested by potential bidders.

$\backslash$table$[[$Bids$,$Number of Shares Requested,Price per Share$],[$Bidder $1,50,000,$$$62$