The Offering Price Is Set to Make the Issue Attractive

The offering price is set to make the issue attractive to the market and provide a good price to the issuer.Which of the following is/are true?

A) Empirical studies by Ritter have shown that the average firm commitments are over-priced
On the first day of trading.
B) Empirical studies have shown that the best efforts sales have over-pricing on the first day
Of trading.
C) Some issues such as Shiva which rose dramatically on the first day of trading were viewed
As successfully priced by the underwriter because it helped build a short-term investment
Base.
D) Empirical studies have shown that the average firm commitments are under-priced on the
first day of trading.
E) None of the above.