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What does “par value of shares” mean?

My answer to What does “par value of shares” mean?

Answer by Raad Ahmed:

Par Value is a bond’s face value or a stock’s as stated in its formation documents. Par value is more important for bonds than it is for shares, because of its maturity date. Shares typically have nominal or no par value (e.g., 1 cent per share).

Source: The Startup Dictionary | LawTrades

What does “par value of shares” mean?

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