Which of the Following Statements Regarding IPOs Is Most Accurate

Which of the following statements regarding IPOs is most accurate?

A) In an auction IPO,the underwriter purchases the entire issue at a small discount and then resells it at the offer price.
B) The shares that are sold in the IPO may either be new shares that raise new capital,known as a secondary offering,or existing shares that are sold by current shareholders (as part of their exit strategy) ,known as a primary offering.
C) Many IPOs,especially the larger offerings,are managed by a group of underwriters,called a syndicate.
D) At an IPO,a firm returns to the public market to offer more shares.
E) Auction IPOs are the most common type of IPO.