Which of the following is NOT generally considered a cost of going pub

Which of the following is NOT generally considered a cost of going public?

a. Underpricing: IPOs appear to be substantially underpriced.
b. Competition: Now that the firm is more visible, industry rivals will compete more intensively.
c. Issuance Costs: The typical underwriter spread for an IPO is 7% of the offering proceeds. d. Management’s time in preparing for the offering.
e. Loss of Control: New equityholders may press the firm to change its investment, financing, or dividend policies, and may also attempt to replace the firm’s original management team.

ANSWER

B