Question: Roundtree Software is going public using an auction IPO. The firm has received the following bids: Price ($) Number of Shares 15.00 160,000 14.80 240,000

Roundtree Software is going public using an auction IPO. The firm has received the following bids:

Price ($)

Number of Shares

15.00

160,000

14.80

240,000

14.60

540,000

14.40

1,100,000

14.20

1,280,000

14.00

820,000

13.80

440,000

Assuming Roundtree would like to sell 2.04 million shares in its IPO, what will be the winning auction offer price?

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