Question
An investor owns 12.23 million shares in Risky Business at the start of this year. The company is an Australian firm currently trading on the
An investor owns 12.23 million shares in Risky Business at the start of this year. The company is an Australian firm currently trading on the ASX and it is about to announce a 4-for-1 stock split. Two days after the stock split, the stock price was $19.57/share and it was $85.61/share at the start of this year. The value of Risky Business shares owned by the investor two days after the stock split would be $ (____________)million. [Note: Your answer must be accurate to two decimal places, but you may leave your answer with more than 2 decimal places.
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