Amazon.com issued an initial public offering in May 1997. Prior to its IPO, the following information on
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Amazon.com issued an initial public offering in May 1997. Prior to its IPO, the following information on shares outstanding was listed in the final prospectus:
In the IPO, the firm issued 3,000,000 new shares. The initial price was $18.00/share with investment bankers retaining $1.26 as fees. The final first-day closing price was $23.50.
The limit-order book for a security is as follows:
The specialist receives the following, in order:
• Market order to sell 400 shares
• Limit order to buy 200 shares at 25.39
• Limit order to buy 600 shares at 25.31 How, if at all, are these orders filled? What does the limitorder book look like after these orders?
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Related Book For
Financial Markets And Institutions
ISBN: 9781292215006
9th Global Edition
Authors: Stanley Eakins Frederic Mishkin
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