Arrange the steps typically followed when dealing with over-subscription using a combination of rejection and pro-rata allotment:
A. Allot shares on a pro-rata basis to some applicants.
B. Receive applications for more shares than offered.
C. Adjust excess application money towards subsequent payments or refund balance.
D. Reject some applications and refund their money.
1
B, D, A, C
2
B, A, D, C
3
D, B, A, C
4
B, D, C, A