Question: Please help me solve. I will leave a thumbs up!! You founded a firm that currently has 18 million shares, of which you own 10
You founded a firm that currently has 18 million shares, of which you own 10 million. You are considering an IPO where you would sell 3 million shares for $19 each. If all of the shares sold are secondary, what is the maximum number of secondary shares you could sell and still retain more than 50% ownership of the firm? How much would the firm raise in that case? What is the maximum number of secondary shares you could sell and still retain more than 50% ownership of the firm? The maximum number of secondary shares you could sell is shares. (Round to the nearest whole number.)
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