Maro Merchant Bank plc is to issue N500,000 ordinary shar...
Maro Merchant Bank plc is to issue N500,000 ordinary shares of 50k each at N 3.00 per share. Applications were received for N1,550,000 shares fully paid, N1,250,000 shares are to be issued on a pro rata basis and excess subscriptions were dishonored and refunds made?
What will be the number of shares to be issued to a subscriber who applied for N30,000 shares?
N20,000
N18,000
N15,000
N12,000
Correct answer is A
No explanation has been provided for this answer.
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