IPO pricing: InfoNeed, Ltd., issues a $38.6 million IPO priced at $12.50 per share, and the offering price to the public is $19.30 per share. The company's legal fees, ASIC registration fees, and other administrative costs are $270,000. The company's share price increases 18 per cent on the first day. What is the total cost of issuing the securities to the company?
A) $13.6 million
B) $20.82 million
C) $20.6 million
D) $6.95 million
Correct Answer:
Verified
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