Question
Wyatt Oil has 4 million shares outstanding and is about to issue 6 million new shares in an IPO. The IPO price has been set
Wyatt Oil has 4 million shares outstanding and is about to issue 6 million new shares in an IPO. The IPO price has been set at $17 per share, and the underwriting spread is 5%. The IPO is a big success with investors, and the share price rises to $27 the first day of trading. 1) The amount that Wyatt Oil raised during the IPO is closest to:
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Multinational Business Finance
Authors: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett
11th Edition
0321357965, 978-0321357960
