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Recently, Hale Corporation announced the sale of 2.5 million newly issued shares of its stock at a price of $21 per share. Hale sold the stock to an investment banker, who in turn sold it to individual and institutional investors. This is a secondary market transaction. True

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Based on the fact that HALE sold the shares to an Investment banker, this cannot be said to be a secondary transaction. The statement is False.

What is a secondary market share transaction?

This refers to when shares have already been sold to individuals and institutional investors, and then these entities sell to other entities.

When a company sells directly to an investment bank which then sells it to others, this is a primary market transaction.

Find out more on primary market transactions at https://brainly.com/question/8017256.

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