Last year IBM issued shares to raise funds for expansion. The investment bank acquired IBM's entire issue, which it distributed via a syndicate. Which of the following best describes this action? The shares were issued in the:
A) primary market via an underwritten arrangement.
B) secondary market via a best-efforts arrangement.
C) primary market via a best-efforts arrangement.
D) secondary market via an underwritten arrangement.
Correct Answer:
Verified
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