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A new fleet of planes and needs to raise $$28.3092 million (net of underwriting cost) to fund an expansion. If the offer price is $4
A new fleet of planes and needs to raise $$28.3092 million (net of underwriting cost) to fund an expansion. If the offer price is $4 and the underwriters require a 7 per cent spread on the transaction, how many shares does the company need to issue (in millions to three decimal places)?(Hint:required amount/(1-spread) = issue amount)
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