Reading difficulty
Always thanks. I'm reading Jeffrey Archer's novel, Not a penny more, not a penny less. In it, reads; Prospecta Oil issued 2,000,000 10 pence shares at one pound, which were all taken up for Harvey by nomimees. My question is what the meaning of 2,000,000 10 pence shares at one pound and all taken up for Harvey by nominees will be.
Top answer
I am not sure about the stock market language. My guess would be that two million shares were issued with the nominal value of 10 pence but were bought at one pound each (there are 100 pence in a pound). If that is correct, they were bought at 10 times their face value.
- I am not sure about the stock market language.
- My guess would be that two million shares were issued with the nominal value of 10 pence but were bought at one pound each (there are 100 pence in a pound).
- If that is correct, they were bought at 10 times their face value.
- The second part is clearer.
- " (They were buying shares for him, not themselves).
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I am not sure about the stock market language. My guess would be that two million shares were issued with the nominal value of 10 pence but were bought at one pound each (there are 100 pence in a pound). If that is correct, they were bought at 10 times their face value.
The second part is clearer. The shares were purchased by various people (probably stockbrokers) but the owner
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