Morgan Stanley was the investment banking firm that took Facebook from being a closely held company to issuing stock to the public for the first time. Which of the following terms most closely describes this?
A) money market security.
B) issuing commercial paper.
C) initial public offering (IPO).
D) debt security backed by the general credit of the issuer.

Question

Quizplus · Accepted Answer

An initial public offering (IPO) is the process by which a private company goes public by selling its stocks to the general public for the first time. Morgan Stanley, as the investment banking firm for Facebook, facilitated its IPO.

Morgan Stanley Was the Investment Banking Firm That Took Facebook