"The Hiline Corp. and the Loline, Inc., have both priced their IPOs at $29. The true value per share of Hiline is $33 and the true value per share of Loline is $27. You place orders for 1,000 shares of each IPO. The Loline IPO is undersubscribed and so all bidders are allocated all the shares they ordered. In contrast, the Hiline IPO is oversubscribed and so the bidders receive only half of the shares they ordered. Assuming the opening prices on the first day of trading are equal to the firms' true values, what will be your $ profit?"
