Question
XYZ used an investment bank to do IPO. In IPO, XYZ sold 1 million shares at $68 each. The investment bank charged 7% spread. At
XYZ used an investment bank to do IPO. In IPO, XYZ sold 1 million shares at $68 each. The investment bank charged 7% spread. At the end of the 1st day of trading, XYZ stock price closed at $75. Calculate the total cost of IPO. That is, what is the sum of direct and indirect cost?
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Bond Markets Analysis And Strategies
Authors: Frank J. Fabozzi
6th Edition
0131986430, 9780131986435
