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JAMB Commerce 2004 Question 22

Question 22

Stock Exchange

In the primary market, new shares are issued through

  1. A.personal selling, publicity and advertising
  2. B.a prospectus, an offer for sale and a bill of exchange
  3. C.advertising, a prospectus and a bill of exchange
  4. D.a prospectus, an offer for sale and placing
Show the answer and explanation

Answer: D (a prospectus, an offer for sale and placing)

Explanation

New shares are issued by public issue through a prospectus, by an offer for sale through an issuing house, or by placing them with chosen investors.