What is Initial Public Offer (IPO)? When does company apply for an IPO and what are the possible reasons why company or business institutions apply for an IPO? Give three broker participants in the Philippine Stock Exchange (PSE). If you will invest your money which among these broker will you invest and why? Why do prices of securities in secondary market fluctuate? What are the factors that affect the fluctuation of securities' prices in a secondary market? Visit Philippine Stock Exchange website at https://pse.com.ph/. Select a certain security that you know and make an analysis of its price fluctuation for the last 3 months. Give your insights of what affects the increase/decline of price of this company relative to its price 3 months ago.