A company goes public by using an auction. The bids are contained in the table below. The firm wants to sell 12 million
Posted: Tue Nov 16, 2021 8:15 am
A company goes public by using an auction. The bids are
contained in the table below. The firm wants to sell 12 million
shares.
Assume that the auction is conducted as a dirty auction, and the
clearing price is $21. Describe which bidders would receive shares,
the price they would pay, and how much of their orders would be
filled. Enter your answers for the number of receive shares in
millions. For example, an answer of 1.234 million should be entered
as 1.234, not 1,234,000. Round the monetary values to the nearest
dollar and answers for the number of receive shares to three
decimal places. If the investor wouldn't receive shares, enter "0"
in both columns.
contained in the table below. The firm wants to sell 12 million
shares.
Assume that the auction is conducted as a dirty auction, and the
clearing price is $21. Describe which bidders would receive shares,
the price they would pay, and how much of their orders would be
filled. Enter your answers for the number of receive shares in
millions. For example, an answer of 1.234 million should be entered
as 1.234, not 1,234,000. Round the monetary values to the nearest
dollar and answers for the number of receive shares to three
decimal places. If the investor wouldn't receive shares, enter "0"
in both columns.