Data from the marketplace show that the shares sold in an IPO are typically
A) priced between 2 and 5 percent below the price at which they close at the end of first day of trading.
B) priced between 10 and 15 percent above the price at which they close at the end of first day of trading.
C) priced between 10 and 15 percent below the price at which they close at the end of first day of trading.
D) priced between 2 and 5 percent above the price at which they close at the end of first day of trading.
Answer: C
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