Which of the following are likely causes of underpricing in traditional (book-building) IPOs?

	A.	Traditional IPOs mostly use firm commitment underwriting
	B.	The underwriter can select which investors to allocate shares to
	C.	The underwriter tends to focus too much on its own internal valuations instead of relying on the cut-off price from the bookbuilding
	D.	Option A and B
	E.	Option A and C
	F.	Option B and C
	G.	Option A, B and C
	H.	None of the above