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JAMB Commerce 2005 Question 44

Question 44

Stock Exchange

Initial public offering is undertaken through the

  1. A.secondary securities market
  2. B.first-tier securities market
  3. C.primary securities market
  4. D.second-tier securities market
Show the answer and explanation

Answer: C (primary securities market)

Explanation

New securities sold for the first time are sold in the primary market; existing ones change hands in the secondary market.