Question
Price ($) Number of Shares Bid 5.00 600,000 5.25 700,000 5.50 850,000 5.75 800,000 6.00 650,000 6.25 400,000 6.50 150,000 Felicity Industries is selling 2
| Price ($) | Number of Shares Bid |
| 5.00 | 600,000 |
| 5.25 | 700,000 |
| 5.50 | 850,000 |
| 5.75 | 800,000 |
| 6.00 | 650,000 |
| 6.25 | 400,000 |
| 6.50 | 150,000 |
Felicity Industries is selling 2 million shares of stock in an auction IPO. At the end of the bidding period they have received the bids shown above. Which of the following is closest to the price at which the shares will be offered?
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Fundamentals Of Corporate Finance
Authors: Jonathan Berk, Peter DeMarzo, Jarrod Harford, David Stangeland, Andras Marosi
3rd Canadian Edition
0135418178, 978-0135418178
