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4. On 11 April 2011, Leighton Holdings Limited announced a 1 for 9 pro-rata entitlement issue at $22.50 per new share. Calculate the ex-distribution theoretical

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4. On 11 April 2011, Leighton Holdings Limited announced a 1 for 9 pro-rata entitlement issue at $22.50 per new share. Calculate the ex-distribution theoretical ex-rights price for Leighton if the share price prior to announcement was $28.94 and the discount to the pre-announcement share price that the rights shares were issued at. BA

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