Business, 09.07.2021 03:40, nickames202otpo7q

How would you rationalize firm commitment underwriting or not for an IPO where? a) we have estimated the fair value in the range of $22-$24 per share,
b) we have suggested the IPO should be offered at $22.50, but
c) the client is insisting on offering at $24? Assume the total deal is $5B, the estimated commission is 5% and the road show book (at the recommended $22.50) is subscribed at about 350%.

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How would you rationalize firm commitment underwriting or not for an IPO where? a) we have estimate...