What will be the number of shares to be issued to a subscriber who applied...
FINANCIAL
JAMB 2015
What will be the number of shares to be issued to a subscriber who applied for 50,000 units.
- A. 20,000
- B. 18,000
- C. 15,000
- D. 12,000
Correct Answer: A. 20,000
Explanation
Allotment = 500,000 = 0.4 or 40%
? Each subscriber would get 40% shares of what they applied for.
? 50,000 x 0.4 = 20,000 units
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