The company will 'discover' its priceEarlier, the company determined a fixed price for the stockissue. The issue was marketed to the general public throughadvertisements and a media campaign.Today, companies prefer a book building process. Bookbuilding is the process of price discovery. That means there isno fixed price for the share.Instead, the company issuing the shares comes up with aprice band. The lowest price is referred to as the floor and thehighest, the cap.Bids are then invited for the shares. Each investor states howmany shares s/he wants and what s/he is willing to pay for those shares (depending on the price band).The actual price is then discovered based on these bids.