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Hi Mike!
Concerning right issue of shares, could you explain what’s the idea/logic of adjusting for the bonus fraction?
Within the context of a rights issue, the amount of cash received is less than the ‘normal’ market price of the qui aren’t shares so, within that issue there is a ‘free’ element and the rights fraction is to take account of the free element of that issue
That really is all you need to know other than the calculations
OK?
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