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Dutch auction underwriting - the underwriter does not set the offer price. Instead, a series of bids is solicited from potential investors, and the price that is paid by everyone is the price that will result in all shares being sold. The incentive is to bid high to guarantee that you get in on the offer price, knowing that you will only pay the lowest accepted price. But, the risk is that everyone bids high.

The U.S. Treasury has sold bills, bonds, and notes using the Dutch auction process for many years. Google is the highest profile Dutch auction IPO to date.