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Muscut insurance LLC has issued 600,000 equity shares @ OMR 0.400 baize with a current...

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Accounting

Muscut insurance LLC has issued 600,000 equity shares @ OMR 0.400 baize with a current market value of OMR 2 per share. It offers a rights issue of 1 for 4 shares at an offer price of OMR 1.20. If only 65% of the offer is utilized, how much amount has the company raised through the right issue?

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