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December 2008

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FM Exams › December 2008

  • This topic has 3 replies, 2 voices, and was last updated 9 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • December 1, 2015 at 4:03 pm #286753
    farhana001
    Member
    • Topics: 34
    • Replies: 45
    • ☆☆

    December 2008 a I can’t find the number of existing shares in the question. It says it’s 4,000,000

    December 1, 2015 at 4:45 pm #286770
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54696
    • ☆☆☆☆☆

    Which question?!

    December 1, 2015 at 7:54 pm #286823
    farhana001
    Member
    • Topics: 34
    • Replies: 45
    • ☆☆

    Oops sorry
    q 1 a

    December 2, 2015 at 7:35 am #286883
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54696
    • ☆☆☆☆☆

    You don’t actually need to know the number of existing shares, although you can calculate how many there must be.

    The rights issue is at 2.50 less 20% = $2 per share. They are raising $5M and therefore must be issuing $5M/$2 = 2.5M shares.

    It is a 1 for 4 rights issue and there the current number of shares in issue must be 4 x 2.5M = 10M.

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