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First Day Close


The closing price for an initial public offering (IPO) on the first day its securities trade on an exchange (secondary market). The first day close minus the first day offering price, divided by the first day offering price produces the first day return (the initial return is the first day close price over the offer price, minus one).



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Investment banking is a branch of banking that mainly involves (1) underwriting services and advisory services (together dubbed "core investment banking") ...
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