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When listing on the JSE (Johannesburg Stock Exchange), JPe Ltd. wishes to have a full subscription and a successful share issue. The company values its

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When listing on the JSE (Johannesburg Stock Exchange), JPe Ltd. wishes to have a full subscription and a successful share issue. The company values its shares at R50 apiece. Expert investors and insiders value the share at R44 apiece. At what price should JPe Ltd. offer their shares in order for them to have the best chance of a full subscription

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