Question
ABC Inc has 14,000,000 shares outstanding. The price per share is $35.75. The company plans on raising $120,000,000 by issuing rights to its existing shareholders.
ABC Inc has 14,000,000 shares outstanding. The price per share is $35.75. The company plans on raising $120,000,000 by issuing rights to its existing shareholders. The subscription price will be $24.00. How many new shares will the company issue? Your answer should be accurate to two decimal places.
Answer: 5,000,000.00 But I do not know how to get this answer
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Case Studies In Finance
Authors: Robert F. Bruner
4th Edition
0072338628, 978-0072338621
