According to http://www.streetinsider.com/IPOs/VanceInfo+Technologies +(VIT)+Sees+IPO+Price+of+$7.50-$9.50/3161843.html their IPO price was $8.50/share, and they sold 7.65M shares. Therefore, they raised exactly $65,025,000 worth. This occured on December 14th, 2007, which was about one month ago.
However, today, the MC of this company is ~$218M, and the share prices are *LESS* than they were during the IPO. They price at $6.07/share now.
Moreover, on their IPO, there were 7.65M shares, but today, according to http://finance.google.com/finance?q=vit , there are 36.05M shares.
Here are my questions: 1. Since they didn't have any secondary offerings, it really seems that they released 36.05M shares during their IPO(?). How do these analysts figure out that they raised $65M and not $306.4M (36.05M * $8.50/share) ? 2. Why is there such a HUGE discrepancy between 36.05M shares (which is what they have today) and 7.65M shares (which is how much they sold at IPO)?