Utilities Ltd.decided to go public by an initial public offering.It sold securities, some of which were bought by James Jefferson.Six months later, Mr.Jefferson sold the Utilities shares he had purchased to Martha Graham and Mark Franco.Two years later, Mr.Jefferson bought back the Utilities shares from Ms.Graham and Mr.Franco and made a profit out of both transactions.Who is the issuer in this scenario?

Question

Quizplus · Accepted Answer

Utilities Ltd. is the issuer because they are the ones who went public and sold the securities in the initial public offering.