If applicants for 80,000 shares were allotted 60,000 shares on a pro-rata basis, the shareholder who was allotted 1,500 shares must have applied for:
Answer & explanation
Correct answer: option 4
The correct answer is option 4- 2,000 shares.
Total applied shares = 80,000
Total allotted shares = 60,000
Those who allotted 60,000 shares applied for 80,000 shares
Who allotted shares 1,500 shares applied for = 80,000/60,000 X 1,500
= 2000 shares