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Roundtree Software is going public using an auction IPO. The firm has received the following bids : 4 Price ($) Number of Shares 14.40 160,000

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Roundtree Software is going public using an auction IPO. The firm has received the following bids : 4 Price ($) Number of Shares 14.40 160,000 14.202 260,000 14.00 500,000 13.80 1,200,000 13.602 1,280,000 13.40 860,000 13.204 420,000 1. What is an Auction IPO?- 2. Compared to firm Commitment IPO, what is the advantage of the Auction IPO?- 3. Assuming Roundtree would like to sell 2.12 million shares in its IPO, what will be the winning auction offer price? Please explain the answer. |

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