Thanks for the explanation. It sounds like the stock is allocated to the entities willing to buy the largest amount though, not everybody has the same chance. I

Thanks for the explanation. It sounds like the stock is allocated to the entities willing to buy the largest amount though, not everybody has the same chance. If an investor asks for $70B of stock (through shell companies) even if the total offering is for only $1B, they'll get about 25% of this IPO without posting the $70B. It also sounds like the company going public has a big incentive to boost its short-term profits in the year leading to the IPO.