Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Global Corporation was formed on 1 April 2016 with an authorized capital of OMR 15,000,000 divided into common stock of OMR 0.500 each. During the
Global Corporation was formed on 1 April 2016 with an authorized capital of OMR 15,000,000 divided into common stock of OMR 0.500 each. During the year, the business came up with an Initial Public Offer (IPO) of issuing 8,000,000 equity shares at OMR 0.800 each. Assume that the IPO is fully subscribed, calculate and show the number of shares subscribed by the public. a. None of the options b. 15,000,000 shares c. 8,000,000 shares d. 23,000,000 shares
Global Corporation was formed on 1 April 2016 with an authorized capital of OMR 15,000,000 divided into common stock of OMR 0.500 each. During the year, the business came up with an Initial Public Offer (IPO) of issuing 8,000,000 equity shares at OMR 0.800 each. Assume that the IPO is fully subscribed, calculate and show the number of shares subscribed by the public.
a.
None of the options
b.
15,000,000 shares
c.
8,000,000 shares
d.
23,000,000 shares
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started