Question 6 [15 marks] TradeMe Group Limited (TradeMe hereafter) completed its IPO in 2011. The stock was offered at a price of $2.7 NZD per share. On the first day of trading, the stock closed at $2.9 per share. (b) TradeMe was officially delisted from the NZX in mid-2019, after it was bought by an overseas private equity firm. What could be the possible reasons behind TradeMes decision to exit the stock market? Please provide at least TWO reasons and briefly explain. (Word limit: 150) (5 marks) T. T. t e t e 5 (c) It is well known that on average IPOs are under-priced. Please provide two reasons to explain this phenomenon. (Word limit: 150) (5 marks) e 2 e e