Quote:
Originally Posted by Dragon123
You are right Chidi. There is no secret about it though as the MD Japaul was reported in the Vanguard of January 29 page 22 that information from the issuing house was that the issue was over subscribed by 500%. He however stated that a large chunk of the over subsciption would be absorbed. He also claimed that Japaul will surpass its 2008 projections by 500%. PAT for 2008 would be N6bn with a dividend of 90k as against 18k initially projected. 2008 turnover was projected at N20bn.
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Isn't there a SEC rule that you cannot absorb more than 25% of oversubscription?