Two IPOs are offering 12 shares each priced at $100. 1st trading day price will be $120 or $80. One informed and two uninformed investors have $1200each. The uninformed investors bid for 6 shares in each IPO, while the informed investor bids for 12 shares in the cheap IPO. Whenever the demand exceeds the supply of shares, the investors are allocated shares in proportion to the number of shares they bid for. The uninformed investors' return will be