Question: Please explain Let's discuss the intermediary in an initial public offering (IPO) using trading terminology. In a best-efforts IPO (rather than firm commitment IPO), does

Please explain Let's discuss the intermediary in an initial public offering

Please explain

Let's discuss the intermediary in an initial public offering (IPO) using trading terminology. In a best-efforts IPO (rather than firm commitment IPO), does the investment bank act as an agent/broker or a principal/dealer? (a) agent/broker (b) principal/dealer

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