A public company has 2 000 000 ordinary shares of 50k each and offers 50% for subscription at N2 per share.
If the shares were fully subscribed, calculate the issued capital?
Total number of ordinary shares: 2,000,000.
Nominal value of each share: 50k (which is N0.50)
Subscription offer: 50% of the shares
Subscription price: N2 per share
Shares offered for subscription = 5% of 2,000,000 = 1,000,000.
Issued Capital = Shares offered × Subscription price = 1,000,000 x 2 = N2,000,000.
The issued capital when the shares are fully subscribed is N2,000,000.
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