Which of the following statement is correct about the Secondary Market?
1
It is the market where newly issued securities, such as Initial Public Offerings (IPOs) and Rights Issues, are offered to investors.
2
The price of securities is determined by market forces of supply and demand.
3
The issuing entity plays a key role as it is responsible for issuing and selling securities to investors.
4
The offering price is based on various factors such as the financials of the issuing entity, market conditions, and demand from investors.