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Which of the following statements about warrants is incorrect? A. Warrants offer no income, but give the holder the right to apply for the ordinary shares of the company at a fixed price. B. Warrants have a fixed life, and once this has expired, the warrant may be sold back to the issuing company at the nominal value of the ordinary shares. C. Warrants are sometimes issued by investment trusts in a bid to compensate investors for the discount to net asset backing at which the shares often trade. D. Warrants are a device sometimes offered by a company to its ordinary shareholders, or attached to a loan issue as part of a package. |