Question
Wyatt Oil has 3 million shares outstanding and is about to issue 6 million new shares in an IPO. The IPO price has been set
Wyatt Oil has 3 million shares outstanding and is about to issue 6 million new shares in an IPO. The IPO price has been set at $19 per share, and the underwriting spread is 9%. The IPO is a big success with investors, and the share price rises to $24 the first day of trading. 1) The amount that Wyatt Oil raised during the IPO is closest to:
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Financial Markets and Institutions
Authors: Anthony Saunders, Marcia Cornett
6th edition
9780077641849, 77861663, 77641841, 978-0077861667
