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D Butler Inc needs to raise 14 million Assuming that the market price of the firms stock is 95 and flotation costs are 10 percent of the market price how many shares would have to be issued?
Wiki User
∙ 12y ago
To raise 14,000,000 dollars, the company can either size the issue by shares or by dollar size. To solve for the number of shares for the issue:
Divide the amount of money the company needs to raise 14,000,000 by the net price of the stock 85.50 (the price of the stock - 10 percent flotation costs) which equals 163,743 shares.
To solve for the dollar amount of the issue:
Multiply the number of shares 163,743 times the market price 95.50 for a total dollar amount of $15,555,556.
Wiki User
∙ 12y ago
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