Читать книгу Corporate Finance For Dummies - Michael Taillard - Страница 108

The par value of a stock is originally set by corporations with contributions by their investment bankers at the initial public offering (the first time a specific stock is sold to investors as a company raises money) — often just called the IPO. The investment bankers determine the value of the company, which is used to establish the amount to be raised, and then divide that amount by the total number of shares to get the par value. During the IPO, shares are sold at no less than the par value, but investors often pay more as they try to outbid other investors. Any amount that the company raises over par value contributes to the additional paid-in capital and shows up on the balance sheet as such.