1. 1. Rights offerings [LO 15.4] Tuggeranong Power Limited is proposing a rights offering. Presently there are...

Question:

1. 1.

Rights offerings [LO 15.4] Tuggeranong Power Limited is proposing a rights offering. Presently there are 375 000 shares outstanding at $67 each. There will be 50 000 new shares offered at $58 each.

1. What is the new market value of the company?

2. How many rights are associated with one of the new shares?

3. What is the ex-rights price?

4. What is the value of a right?

5. Why might a company have a rights offering rather than a general cash offer?

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