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Underprice cost the existing shareholder

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Reference no: EM133120569

A startup issued 1,000,000 shares in an IPO which account for 50% ownership upon the completion of the IPO, the issued price is $5 but the stock is traded at $5.28 immediately following the IPO, the underprice cost the existing shareholder (shareholders before the IPO) $______________ millions. (Keep 2 decimals)

Reference no: EM133120569

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