Problemthe ibbs co needs to raise 65 million to finance its, Ask an Expert

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Problem:

The IBBS Co. needs to raise $65 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds.

Required:

Question: If the offer price is $50 per share and the company's underwriters charge an 8 percent spread, how many shares need to be sold?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91169970

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