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Find what will be the winning auction offer price

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Reference no: EM132937330

Roundtree Software is going public using an auction IPO. The firm has received the following bids:

Price ($) Number of Shares

15.00 120,000

14.80 240,000

14.60 520,000

14.40 1,300,000

14.20 1,240,000

14.00 880,000

13.80 460,000

Problem 1: Assuming Roundtree would like to sell 2.18 million shares in its IPO, what will be the winning auction offer price?

 

Reference no: EM132937330

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