I think there'd be a shareholder revolt if they tried to sell it at that price. No way would it get voted up.
End of day, they can make the allocation in any ratio they want, it will just change the issue price to end up at the market's valuation.
For example a 1:1 issue would give a much lower share price than if they did it at say 100:1
I wouldn't mind seeing a $ sign infront of the share price when it lists.
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