Question: uick math: Cash on application = 10m $1.50 = $15m. Application needed for shares actually allotted (8m) = 8m $1.50 = $12m. Excess = $15m

uick math: Cash on application = 10m $1.50 = $15m. Application needed for shares actually allotted (8m) = 8m $1.50 = $12m. Excess = $15m $12m = $3m, transferred to the Allotment account on pro-rata allotment

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