PUBLIC OFFER
25 May 2016 By PDSNETAn offer of shares made to the public. The public is invited to apply for the shares by completing an application form and submitting it with their cheque. If the total amount raised exceeds the "minimum subscription" then the offer has been successfully filled. If not, then the entire offer is cancelled and all applicants are refunded. If more applications are received than there are shares to allocate, then the offer is said to be "oversubscribed". All offers must be accompanied by a prospectus drawn up in terms of Schedule 3 of the Companies Act.
Share this glossary term: