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What happens if there is an over subscription for shares on the IPO?

The number of Ordinary Shares which will be issued to the Investor will be reduced on a pro-rata basis; and any additional subscription proceeds (above the number of Ordinary Shares being issued to the Investor) which have been debited from the prospective Investors Account, will be refunded to the Investor's Account within 2 (two) Business Days of the Closing Date. 


IPO funding target is R1 000. Which represents 1 000 shares at R1.
You subscribe for 20 shares at a total cost of R20
When IPO closes, it is oversubscribed by 200%
You are then issued 10 shares in the property which cost R10. The extra R10 is refunded to your EP wallet

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