Question: Question text Lemon Tree Ltd is undertaking a major expansion and is making a new issue of shares to raise the required financing. The company

Question text Lemon Tree Ltd is undertaking a major expansion and is making a new issue of shares to raise the required financing. The company currently has 20 million shares in issue. The company needs to raise R50 million. The share price has been trading within a range of R9.00-R12.00 per share in the last year, but the latest quoted price is R10 per share. The new shares will be issued for R8.00 per share. How many shares will a shareholder need to hold to acquire one new share? a. 3.2 b. 4 c. 3.6 d. 4.2

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