Question $22$

Which of the following can be classified as a primary market transaction?

I$)$ You call your broker to buy $100$ shares of Google on Nasdaq and ask him or her to execute the trade for you.

II$)$ Microsoft issues $1,500,000$ shares of new stock and sells them to the public through an investment banker.

III$)$ Wells Fargo buys $200,000$ shares of Microsoft stock from another institution. An investment banker arranges the transaction.

IV$)$ IBM decides to issue additional $2,000,000$ shares of stocks and hires Morgan Stanley as the underwriter.

a$.$ II and IV

b$.$ I and II

c$.$ II and III

d$.$ II only

e$.$ IV only