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How much money was left on the table

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A company is planning an IPO of 10 million shares. Each share is expected to sell at $15 per share. The underwriters will charge a 6% spread and incur expenses of $1.5 million. All shares sell at the expected price. Price per share at the end of the first day is $16.50. The current price is $20. How much money was left on the table?

  • $35 million
  • $15 million
  • None of the above
  • $13.5 million
  • $50 million

Reference no: EM131533078

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