You founded a firm that currently has 16 million shares, of which you own 11 million. You are considering an IPO where you would sell 3 million shares for$23 each. If all of the shares sold are secondary, what is the maximum number of secondary shares you could sell and still retain more than 50% ownership of the firm? How much would the firm raise in that case?

What is the maximum number of secondary shares you could sell and still retain more than50% ownership of the firm? The maximum number of secondary shares you could sell is nothing shares.