Here is an interesting tidbit. So, someone might

Here is an interesting tidbit. So, someone might decide the price beforehand?

Understanding Grey Markets
A grey market in the securities markets is an over-the-counter market where dealers execute orders for stocks and bonds for preferred customers before they have been issued. These sales are contingent upon the issuance actually taking place, and allows underwriters and the issuer to determine demand and price the securities accordingly before the initial public offering (IPO) or bond issue. In grey market trading, while the trade is binding, it cannot be settled until official trading begins.