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joanie

07/14/11 2:53 PM

#1473 RE: pire #1469

A price for the IPO has to be set before the date can be announced. In the time between the price setting and the public offering, institutions and big traders have the opportunity to buy at that predetermined price.

When the price is set, and then when the date is set, both are registered with SEC and become public info that way. Typically a company will issue a PR at the same time.