Which of the following statements are true regarding Primary markets?
i) A primary market issues new securities on an exchange for companies, governments and other groups to obtain financing through debt-based or equity-based securities.
ii)In the primary market the securities are purchased directly from an issuer.
iii)An IPO occurs when a private company issues stock to the public for the first time.
1
Only i
2
Only iii
3
i and iii
4
i and ii
5
All the above