Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. covid 21 company was formed on 1 january 2021 with

Covid 21 Company was formed on 1 January 2021 with an authorized capital of OMR...

60.1K

Verified Solution

Question

Accounting

Covid 21 Company was formed on 1 January 2021 with an authorized capital of OMR 800,000 divided into common stock of OMR 0.600 each. During the year, the business came up with an Initial Public Offer (IPO) of issuing 500,000 equity shares at OMR 0.900 each. The IPO is oversubscribed by 4 times and the company rejected 1/4th applications and for remaining made a pro-rata allotment of 2: 1. By using these data, show the total number of shares will be used for allotment by using pro rata basis.
a.
800,000
b.
1,500,000
c.
4,000,000
d.
5,000,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

RATES: 2.1 Q:1 A) A stone dropped into a still pond sends out a circular ripple whose...

Programming
1.2K views

Implement 3 scheduling algorithms, FIFO, SJF, SRT based on following actions: The simulation maintains the current time,...

Psychology
1.2K views

Outline and create a scenario of your own example where you could differentiate SIX (6) views...

Biology
1.2K views

Which sentence uses the underlined word incorrectly A Sometimes analysts will simulate a sporting event...

Basic Math
1.2K views

3 You re comparing the potential returns of two different investment options Investment A and...

Basic Math
1.2K views

5 2 pts Fill in SIX equal sections in a spinner so that the probabilities...

Calculus
1.2K views

3 Find the area of the region bounded by the graphs of the equations y...

Accounting
1.2K views

required 1-2 Exercise 10-10 (Algo) Bond retirement by call option LO P4...

Accounting
1.2K views

Inga runs a Swedish health spa in Connecticut. She orders 100 loofah sponges from a...

Accounting
1.2K views

which of the following equations is used to prepare a production budget

Accounting
1.2K views

Outback Outfitters sells a small camp stove for $130 per unit. Variable expenses are $91...

Accounting
1.2K views

Required informatio (The following information applies to the questions displayed below.] Hudson Co. reports the...