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QUESTION
Problem 13.20 On August 19, 2004, Google completed its IPO of 19.80 million shares to the initial investors at $84.40 per share. The closing price of...
Problem 13.20
On August 19, 2004, Google completed its IPO of 19.80 million shares to the initial investors at $84.40 per share. The closing price of the stock that same day was $97.71. What was the dollar value of the underpricing associated with the Google IPO? (Round intermediate calculation to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 125.)
Total underpricing was $
million.
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