Which of the Following Statements Is False

question 3

Multiple Choice

Which of the following statements is false?

• A) After deciding to go public, managers of the company work with an underwriter, an investment banking firm that manages the offering and designs its structure.
• 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.
• D) At an IPO, a firm offers a large block of shares for sale to the public for the first time.

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