A firm conducting an IPO of common stock sold 1 million new shares in the offering at an offer price of $10 per share. After the offering, the firm had 5 million shares outstanding, and the price of those shares in the secondary market was $12. The firm's market capitalization is ________.

The firm's market capitalization after the Initial Public Offering (IPO) with an outstanding shares of 5 million and current market price of $12 is $60 million.

What is market capitalization?

Market capitalization is the value of a firm's outstanding shares based on the current market price.

For this firm, the market capitalization is calculated as $60 million ($12x 5million).

Thus, the firm's market capitalization is $60 million.

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