On October 15, 1999, Tiger, inc. went public. Morgan Stanley was the lead underwriter. The offering price of the stock was $28. On the first day of trading the stock opened at $40.20. At the close of the first day of trading the stock was selling for $44.25. Calculate the underpricing for the issue.

Answer rating: 100% (QA)

Underprice of the issue Market price at the end of ... View the full answer