Multiple Choice
Smith Enterprises
Smith Enterprises recently conducted an IPO. In this, Smith received $14 per share from the underwriter, the offering price per share was $16 and the stock price rose to $19 on the first day of trading.
-Refer to Smith Enterprises. What is the first day return on an investment in the IPO?
A) 21.42%
B) 15.79%
C) 18.75%
D) 12.56%
Correct Answer:
Verified
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