Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter18: Initial Public Offerings, Investment Banking, And Capital Formation
Section: Chapter Questions
Problem 5MC
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Question
What is initial public offering (IPO)?
Expert Solution
Step 1
Primary market is the market where the securities will be sold initially. Public buy the securities from the companies directly through initial public offering (IPO) which will be facilitated by the investment banks.
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