Question: IPO pricing: Strump, Inc., a technology firm issues a 66 million EUR IPO priced at 17 EUR per share, and the offering price to the

IPO pricing: Strump, Inc., a technology firm issues a 66 million

IPO pricing: Strump, Inc., a technology firm issues a 66 million EUR IPO priced at 17 EUR per share, and the offering price to the public is 22 EUR per share. The firm's legal fees, registration fees with market supervisory authority, and other administrative costs are 350,000 EUR. The firm's stock price increases 15 percent on the first day. What is the underpricing spread

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