Suppose you are the investment banker working as a lead underwriter for a start-up company. The company plans to sell 100 million shares at the price of $23 per share. It also provides you an over-allotment option of 15 million additional shares. Recent road show estimates demand to be around 130 million shares at $23. There is lots of uncertainty about how the stock will perform after trading starts. Consider the following decisions. Before the trading starts tomorrow, you need to allocate (sell) a number of shares to the institutional investors now at the IPO price. How many shares will you allocate? 95 million shares 100 million shares 115 million shares 125 million shares 130 million shares