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y was based on approximately 72 restricted stock transactions from 1991 through 1995. The overall average discount for the study was 20.0%. 25 From FMV Restricted Stock Study. 26 From Michael Henze] and Richard L. Smith, "Market Discounts and Shareholder Gains for Placing Equity Privately," The Journal of Finance, June 1
wtramon me... Ai pentad! r998891•09 %we • nallcoonl hinboltenreennol dies 1 91 oto hog 5.4•098 rinknnennol et. ordosool 0ffirookian 9€490.1 ton 104 Ileakiontrelace. 9441•1491ineo poelorei olo948481441.414 Son 2. recbrel 9•4488.1en as el. pononle ondo 949•••••••erelovlan • ow in Ise ok 44.1189•1•499 woo0.8)140
y was based on approximately 72 restricted stock transactions from 1991 through 1995. The overall average discount for the study was 20.0%. 25 From FMV Restricted Stock Study. 26 From Michael Henze] and Richard L. Smith, "Market Discounts and Shareholder Gains for Placing Equity Privately," The Journal of Finance, June 1
wtramon me... Ai pentad! r998891•09 %we • nallcoonl hinboltenreennol dies 1 91 oto hog 5.4•098 rinknnennol et. ordosool 0ffirookian 9€490.1 ton 104 Ileakiontrelace. 9441•1491ineo poelorei olo948481441.414 Son 2. recbrel 9•4488.1en as el. pononle ondo 949•••••••erelovlan • ow in Ise ok 44.1189•1•499 woo0.8)140
y was based on approximately 72 restricted stock transactions from 1991 through 1995. The overall average discount for the study was 20.0%. 25 From FMV Restricted Stock Study. 26 From Michael Henze] and Richard L. Smith, "Market Discounts and Shareholder Gains for Placing Equity Privately," The Journal of Finance, June 1
wtramon me... Ai pentad! r998891•09 %we • nallcoonl hinboltenreennol dies 1 91 oto hog 5.4•098 rinknnennol et. ordosool 0ffirookian 9€490.1 ton 104 Ileakiontrelace. 9441•1491ineo poelorei olo948481441.414 Son 2. recbrel 9•4488.1en as el. pononle ondo 949•••••••erelovlan • ow in Ise ok 44.1189•1•499 woo0.8)140
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