Solution-Determining the shares of stock

Determining the shares of stock

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Reference no: EM131106550

Chinese Importers wants to raise $58 million to expand its operations into South America. The company will sell new shares of common stock using a general cash offering. The underwriters charge a 7.8 percent spread, the administrative costs are $411,000, and the offer price is $35 per share. How many shares of stock must be sold if the firm is to raise the funds it desires?

1,648,315 shares
1,810,071 shares
1,911,502 shares
1,989,415 shares
2,051,515 shares

Reference no: EM131106550

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Determining the shares of stock

Reference no: EM131106550

Reference no: EM131106550

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