From f3bf872b238307220188cf983fc10d520e01e0c1 Mon Sep 17 00:00:00 2001
From: Undeemiss <jade@hewittfamily.com>
Date: Sat, 16 Apr 2022 12:11:05 -0500
Subject: [PATCH] Limit shareholder reservation on new shares relative to
 ownership

Updated the computations for issuing new corp shares so that
private investors cannot purchase a greater percentage of the
company than they already own. This change is an indirect buff
to corporations that elect not to use as many private investors
as possible.

Also updated UI elements to reflect the change. I'm not sure about
the wording I chose; I think it could be improved upon, but that
was the best I came up with.
---
 .../ui/modals/IssueNewSharesModal.tsx         | 35 +++++++++++--------
 1 file changed, 21 insertions(+), 14 deletions(-)

diff --git a/src/Corporation/ui/modals/IssueNewSharesModal.tsx b/src/Corporation/ui/modals/IssueNewSharesModal.tsx
index 570bf86e5..01eae7547 100644
--- a/src/Corporation/ui/modals/IssueNewSharesModal.tsx
+++ b/src/Corporation/ui/modals/IssueNewSharesModal.tsx
@@ -73,24 +73,31 @@ export function IssueNewSharesModal(props: IProps): React.ReactElement {
 
     const profit = newShares * newSharePrice;
     corp.issueNewSharesCooldown = CorporationConstants.IssueNewSharesCooldown;
-    corp.totalShares += newShares;
 
     // Determine how many are bought by private investors
-    // Private investors get up to 50% at most
-    // Round # of private shares to the nearest millionth
-    let privateShares = getRandomInt(0, Math.round(newShares / 2));
-    privateShares = Math.round(privateShares / 1e6) * 1e6;
+    // If private investors own n% of the company, private investors get up to 0.5n% at most
+    // Round # of private shares to the nearest million
+    const privateOwnedRatio = 1 - (corp.numShares + corp.issuedShares) / corp.totalShares;
+    const maxPrivateShares = Math.round((newShares / 2) * privateOwnedRatio);
+    const privateShares = Math.round(getRandomInt(0, maxPrivateShares) / 1e6) * 1e6;
 
     corp.issuedShares += newShares - privateShares;
+    corp.totalShares += newShares;
     corp.funds = corp.funds + profit;
     corp.immediatelyUpdateSharePrice();
     props.onClose();
-    dialogBoxCreate(
-      `Issued ${numeralWrapper.format(newShares, "0.000a")} and raised ` +
-        `${numeralWrapper.formatMoney(profit)}. ${numeralWrapper.format(privateShares, "0.000a")} ` +
-        `of these shares were bought by private investors.<br><br>` +
-        `Stock price decreased to ${numeralWrapper.formatMoney(corp.sharePrice)}`,
-    );
+
+    let dialogContents =
+      `Issued ${numeralWrapper.format(newShares, "0.000a")} new shares` +
+      ` and raised ${numeralWrapper.formatMoney(profit)}.`;
+    if (privateShares > 0) {
+      dialogContents += `<br>${numeralWrapper.format(
+        privateShares,
+        "0.000a",
+      )} of these shares were bought by private investors.`;
+    }
+    dialogContents += `<br><br>Stock price decreased to ${numeralWrapper.formatMoney(corp.sharePrice)}`;
+    dialogBoxCreate(dialogContents);
   }
 
   function onKeyDown(event: React.KeyboardEvent<HTMLInputElement>): void {
@@ -119,9 +126,9 @@ export function IssueNewSharesModal(props: IProps): React.ReactElement {
         &nbsp;* Number of new shares issued must be a multiple of 10 million
         <br />
         <br />
-        When you choose to issue new equity, private shareholders have first priority for up to 50% of the new shares.
-        If they choose to exercise this option, these newly issued shares become private, restricted shares, which means
-        you cannot buy them back.
+        When you choose to issue new equity, private shareholders have first priority for up to 0.5n% of the new shares,
+        where n is the percentage of the company currently owned by private shareholders. If they choose to exercise
+        this option, these newly issued shares become private, restricted shares, which means you cannot buy them back.
       </Typography>
       <EffectText shares={shares} />
       <TextField autoFocus placeholder="# New Shares" onChange={onChange} onKeyDown={onKeyDown} />