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Good day, I need help with the following question.
Company X wishes to raise $100 million through rights issue. Company X has 100 million shares in issue at $2.50 per share. A subscription price of $2.20 under plan X and $1.80 under plan Y is suggested.
a) How many shares is a shareholder required to hold to purchase a new share?
b) How many shares a issued under both plans
c) Which plan is preferable to the company and which would you recommend.This question has really confused me as I am unable to determine (a)
Thanking you in advance.
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