Question No 14
A listed company is planning to raise $21.6 million to finance a new project with a positive net present value of $5 million. The finance is to be raised via a rights issue at a 10% discount to the current share price. There are currently 100 million shares in issue, trading at $2.00 each. Taking the new project into account, what would the theoretical ex-rights price be? Give your answer to two decimal places. $ ?
Answer: 2.02, 2.03
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