Question
Jubilee Trust has issued 15 million ordinary shares and the company's shares are trading at R85.00 each. The company's total assets amount to R125 850
Jubilee Trust has issued 15 million ordinary shares and the company's shares are trading at R85.00 each. The company's total assets amount to R125 850 000 and total liabilities to R60 000 000. Assume that investment trust companies similar to Jubilee Trust normally trade at a premium of 20% to net asset value (NAV). The NAV of Jubilee Trust shares is:
Net asset value (NAV): R_______
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown, Sanford J. Leeds
11th Edition
1305262999, 1305262997, 035726164X, 978-1305262997
