2 ms·
Pricing an IPO is more or less an auction. When pricing an IPO they set a range and then meet with institutional investors to sell their book (in this case 70M
by wrice314 13y ago
Pricing an IPO is more or less an auction. When pricing an IPO they set a range and then meet with institutional investors to sell their book (in this case 70M shares. The original price was 17-20 per share, and there was excess demand at this price, so the bankers and company, pushed the price to $26 per share.