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Here is the latest strange twist in the Facebook IPO saga.Facebook’s underwriters managed to make $100 million from trading the company’s stock, and stabilizing the price, Bloomberg reports.
The full group of bankers, over 30 in all, will share the money, says Bloomberg.
$100 million doesn’t sound like a lot of money to split for the banks, but consider that the banks’ total fees on the deal were reportedly only $176 million. So, making an extra $100 million is nice.
However, Bloomberg says Morgan Stanley will reimburse clients who lost money due to the NASDAQ glitches.
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