Quote:
Originally Posted by zainabusman
The law is 25% of the extra u get not of the initial amount. So if the extra is 8 billion, u can keep 2 billion.
Anyway, please see today's business day for the latest on Bank PHB offer oversubscription. They have issued extra 2.11 billion shares to accomodate the extra request of 8.444 billion shares (25% is 2.11). The total shares issued in the offer is reported as 7.11 billion (5+2.11).
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If the law is 25% of the extra, then it does not make sense. So if I do a PO for N5B and I get N100B, i will be allowed to keep 25% of N95B? I do not have access to Business Day, but I was always under the impression that it was 25% of the intial amount (that makes more sense to me than 25% of the extra you got)