passwella.
Menu

JAMB Commerce 2010 Question 33

Question 33

Stock Exchange

A pre-requisite for admission into the Second-Tier Securities Market is for a company to

  1. A.make 20% of its equity share available to the public for subscription
  2. B.have a minimum of 100 shareholders
  3. C.have a maximum of 100 shareholders
  4. D.make 10% of its equity share available to the public for subscription.
Show the answer and explanation

Answer: D (make 10% of its equity share available to the public for subscription.)

Explanation

A company on the Second-Tier Securities Market needs to offer at least 10% of its equity to the public.