What will be the number of shares to be issued to a subscriber who applied for 50,000 units.
-
20,000
- 18,000
- 15,000
- 12,000
The correct answer is: A
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