Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Describe the typical first-day return of an IPO and
the long-term returns to IPO investors.
Expert Solution
Step 1
Initial public offering is the process by which private companies sell their shares to the public for the first time in order to raise funds.
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