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IPO underpricing refers to the difference of the price paid by underwriter to the issuing company and the offer price. the price paid by underwriter

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IPO underpricing refers to the difference of the price paid by underwriter to the issuing company and the offer price. the price paid by underwriter to the issuing company and the first-trading day market price. the offer price and first-trading day market price. the offer price and market price one year after the IPO

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