Nosam Ltd Has Just Raised $100 Million by an Issue

question 48

Multiple Choice

Nosam Ltd has just raised $100 million by an issue of 5 million converting preference shares.If each CPS converts into 20 ordinary shares on conversion,calculate the value of the ordinary shares received in exchange for each converting preference share.Assume the conversion discount is 5 per cent.

• A)$20.00
• B)$21.05
• C)$105.20
• D)$101.00

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