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AUCTION OF SHARES
SAY I HAD SOLD 25000 SHARES OF PRISM CEM. LTD. ON 14-1-07 BUT I COULD NOT BE ABLE TO SUBMIT THE DELIVERY REQUISITION IN STIPILATED TIME. & THE TRANSACTION WAS AUCTION. THEN MY QUESTION IS THAT WHAT WILL HAPPEN AFTER THAT & WHAT IS AUCTION IN SHARE DEALINGS?
Replies (2)
pl. some one reply
Then shares go in auction. there will be buying on one day before delivery day and it will be at 20% more than closing rate of that share. So say on 16 if shares closing rate is 200 it will cost you at 240.
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